Melania Trump Resurfaces With Memecoin Promotion
Former First Lady Melania Trump has resumed public promotion of her Solana-based memecoin, MelaniaMeme (MELANIA), after a months-long absence. The renewed activity comes as the project faces continued scrutiny over millions of dollars in token sales lacking clear explanations.
AI Video Launches New Phase of Endorsement
On Thursday, Trump posted an artificial intelligence-generated video on X, encouraging viewers to view MELANIA as the pathway "into the future." The video also tagged the official MelaniaMeme X account. Despite the public endorsement, blockchain analysts including Bubblemaps highlighted that the video did not address longstanding questions regarding major token sales from team-held wallets.
Community Concerns Over Token Sales
Blockchain data shows that on April 7, team wallets connected to the MELANIA project transferred approximately $30 million in community funds. These were reportedly sold quietly, with no public communication from the project team. Additional data from platforms such as Lookonchain and Bubblemaps reveals that the team sold more tokens in the three days leading up to April 28, coinciding with a 21% price increase during the previous week. Analysts identified "dollar cost averaging" patterns in these sales.
- April 7: $30 million in community funds moved and sold by team wallets
- Late April: Continued token sales coinciding with price spike
Sharp Price Drop Since Launch
The MELANIA token, which launched in January, has experienced a dramatic decline in value. It traded at $0.18 at the time of writing�down over 90% since launch, and 98% lower than its all-time high of $13.73, according to CoinMarketCap.
Project Team Linked to Other Failed Coins
Hayden Davis, co-creator of MELANIA and a founder of the collapsed Libra token, has a history of similar ventures. In March, Davis launched another themed memecoin with an insider supply of more than 80%, leading to a 99% crash within two days. The prior collapse of Libra saw eight insider wallets sell significant stakes, erasing a $4 billion market cap in hours.
Cointelegraph has reached out to representatives for Melania and Donald Trump, but had not received a response at time of publication.
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