The controversy surrounding the Melania team's revenue continued to intensify after the team sold $ 1.5 million worth of memecoin in the last three days. The Onchain Tracker Lookonchain reported the latest sellers.
According to LookonchainThe team uses a dollar average cost (DCA) approach for the direct sales of the Melania token. Two days ago, they sold 1.18 million Melania for $ 632,000 worth of SOL using the approach, following the sale of another 2.01 million Melania for $ 938,000 today.
Lookonchain said:
“The #Melania team not only added or removed liquidity to sell $ melania, they also work a DCA strategy for direct sales!”
DCA is a approach in which the investor purchased or sells a specified value of an asset once it hits a particular price. This sales method can be programmed, allowing the disposal of tokens at the gap.
By adopting this approach, the project team increases the sale of pressure in Melania due to more than a month's sale-off by sales of exchange and unilateral liquidity in Melania/Sol pool.
In the latest sales, the Melania team has now thrown over 33 million tokens since March 16 while emerging nearly $ 20 million to Sol from sales. The acquisition of income continued despite the concerns of a slow pull of rags.
Melania no longer reflects on Trump's performance
Meanwhile, Melania's ongoing sale is now affecting its performance. Although Memecoin has reached 21% last week, it may not prevent continuous sale of pressure for a long time.
The reason behind its rise earlier was the Trump Memecoin team announcing an exclusive dinner for the top 220 holder of Trump. As the news led to the rise of Trump's token and pushed Melania's value because of its affiliation, there was now a difference in their price performances.
Trump has reached 2% today and is currently trading above $ 15, while Melania has fallen over 6% to $ 0.4511. The difference -that is likely to continue to be given that even last week, Melania just gained 21% compared to more than 80% obtained for Trump.
Trump Memecoin's recent acquisitions have allowed them to eliminate medium-term losses, with a token showing a positive 48% performance in 30 days. However, Melania still dropped 26.54% at the time because it had not yet maintained its gains.
The diversity was not surprisingly given how sellers affected Melania's interest and stacked more pressure sales to the token. The 24-hour trading volume according to CoinMarketCap, is less than $ 30 million despite a circulating supply of 550 million tokens.
By comparison, the shifting -shift supply of 200 million tokens has over $ 1.47 billion in trading volume. It is a reflection of demand for possession and the prolonged purchase pressure.
However, one thing that the same memecoins is is that most buy it is in red. Trump dropped 79% from its climax price, while Melania lost 96.5% of its value since all the time.
Whale shorts Trump in spite of the recovery trend
Despite Trump Memecoin who enjoys the resurgence of the performance, a whale will bet on its subsequent rejection. According to LookonchainThe whale funds a new purse with $ 1.33 million in the USDC to short the Hyperliquid token.
The whale has an entry price of $ 14.787, with their extermination price at $ 21.528, showing that they do not expect the current momentum. It will come at a time when the token has Top Netflow In the last 24 hours.
However, some people The bearish sentiment believes around Trump is reasonable to be given that there will be a token unlocking the scheduled for the next two months. Token unlocks increase the switching -shifting supply, which increases the sale pressure.
The demand for the token, which is close to its January levels last week, can also fall after May 12, which is the last day for determining which holders are qualified for exclusive dinner.
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