Melania’s Team Secretly Sells $30 Million Worth Of Tokens

The blockchain analysis company Bubblemaps revealed on Monday that over 30 million dollars of the memecoin MELANIA were transferred and sold discreetly, with no official communication from the project team.

New crypto scandal around Melania Coin and its sales

Last Monday, the blockchain analysis company Bubblemaps revealed that the team behind the memecoin MELANIA secretly sold tokens worth over 30 million dollars.

These suspicious transactions involve Solana tokens coming directly from the project’s community funds.

The investigation shows that 50 million MELANIA tokens were first sent to a wallet named “Cq2Tj6”, then distributed across multiple addresses.

According to Bubblemaps on X, over 3 million dollars were transferred to exchange platforms, two new positions of 6 million each were created, and about 500,000 dollars have already been sold.

In light of these findings, no explanation has been provided, either by the project team or by Hayden Davis, the “launch strategist” of MELANIA.

“No one within the MELANIA team has addressed this issue. Neither the movements nor the sales,” emphasized Bubblemaps in its report.

A recurring scheme of price manipulation

This is not the first time such actions have been observed. Last week, a sale of 2 million dollars had already been detected, using a one-way liquidity method.

Bubblemaps emphasizes that this is “the same tactic” used by Davis during the collapse of the LIBRA token in February.

Blockchain analysis has established links between Davis and a network of wallets transferring funds between MELANIA, LIBRA, and other memecoins.

According to Bubblemaps, Davis “likely took advantage of the recent decrease in attention to move funds discreetly“.

The MELANIA token, launched in January after Donald Trump’s arrival in the presidency, is now worth only 0.53 dollars, a drop of 95.4% from its peak of 12 dollars.

The official memecoin TRUMP is following a similar trajectory, having lost 89.1% of its value after reaching 72 dollars.

In summary, with 92% of MELANIA tokens controlled by the project team, small investors are particularly vulnerable. As Bubblemaps warns: “The harm is not yet done.“