The samecoin Melania, based in Solana, named after the First Lady of Melania Trump, is under control more and more after a series of large sales of tokens linked to the project team.
On May 3, the Blockchain researcher, Embercn, revealed that the portfolios linked to the project had unloaded nearly 10 million melania tokens in just eight days.
Melania portfolios unload $ 23 million in chips since March
These sales amounted to nearly $ 4.6 million, which has argued strong concerns about long -term viability and project team reasons.
According to Embercn, sales have followed an average strategy of dollars (DCA) costs in parallel with a unilateral liquidity provision. These techniques have allowed the project to reduce the impact of prices while quietly output large positions.
In particular, this is not the first time that the project has used this approach. In April, the same portfolios sold 3 million tokens in exchange for around 9,009 soil – about 1.2 million dollars at the time, using a similar liquidation approach.
Meanwhile, these sales activities have been underway for a long time. Since mid-March, portfolios have discreetly liquidated approximately 41.67 million melania tokens for around 170,000 soil, worth around $ 23 million.
Embercn stressed that most of these products seem to have been converted into USDC and withdrawn. This suggests a continuous effort from the project team to leave their important positions in the token.
Sales of repeated tokens on a large scale by portfolios linked to the project have fueled suspicions among the holders.
Many are now wondering if the meter piece has never been designed for long -term utility or simply designed to capitalize on the recognition of the name of the first American lady.
Melania launched in January 2025 in the middle of the media, stimulated by her brand image and the time of the inauguration of President Donald Trump. However, this early momentum quickly faded in the middle of a wider market lull which had a significant impact on the parts even.
According to Beincryptto data, the token is negotiated at around $ 0.38, down more than 6% in the last day and 31% in the last seven days.
More specifically, Melania plunged around 97% compared to its January 20 peak of $ 13.70.
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