Melania Token: Dumped More Than Trump’s Tweets?! 😱

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So, while the rest of the meme coin world was busy doing the Lambo dance on April 17, the Official Melania Meme

MELANIA
$0.42

24h volatility:
1.4%

Market cap:
$164.24 M

Vol. 24h:
$20.52 M

token decided to take a little tumble, slipping 5% to around $0.40. Apparently, some folks on the inside were having a bit of a fire sale. You know, just your average Tuesday in the crypto world. 🤷‍♂️

On-chain data – which, let’s be honest, sounds way more impressive than it probably is – shows that over 6 million MELANIA tokens were chucked overboard this past week. This was achieved through a complex ballet of liquidity additions and withdrawals across eight wallets. Because why make it simple when you can make it complicated, right? Lookonchain, bless their analytical hearts, figured out that about 13 million tokens, worth over $8 million, have been cashed out for a pile of Solana in the last month. 💸

The #Melania team continues to dump $MELANIA by adding and removing liquidity!

13M $MELANIA has been sold for 60,304 $SOL($8.02M) in the past month.

— Lookonchain (@lookonchain) April 17, 2025

This latest round of “insider activity” (as we’ll politely call it) coincided with an 11% spike in trading volume, hitting $17.1 million. Translation: People were panicking and hitting the “sell” button faster than you can say “rug pull.” 🏃‍♀️

Investor Concerns Rise

The Melania token, which burst onto the scene in January 2025, initially rode the wave of social media buzz related to, well, *the* Melania Trump. It briefly achieved a market cap of over $2 billion. Yes, you read that right. 🤯

However, the price has since plummeted by over 97%, leaving it with a market cap of roughly $221 million. This dramatic nosedive has been attributed to those pesky liquidity withdrawals and large-scale sell-offs by the project’s insiders. Many are now calling MELANIA a “textbook pump-and-dump.” You know, the kind you read about in those “how to lose money quickly” guides. 📚

Experts (because there are experts on meme coins, apparently) have been scratching their heads over MELANIA’s tokenomics and general point of existence. 🤔

Just last week, Bubblemaps – a blockchain analytics platform with a name that sounds like it belongs in a children’s cartoon – discovered that 50 million MELANIA tokens, worth around $30 million, were mysteriously relocated from the community fund to insider wallets. A significant chunk of these tokens then mysteriously appeared on exchanges, with at least $500,000 being dumped outright. It’s like watching a magic trick, except the rabbit is your money. 🐇

Alarmingly, wallets linked to the team supposedly control 92% of the token’s supply. Yes, you read that correctly. The name Hayden Davis, already famous for his role in the LIBRA collapse, is also involved in these transactions. It’s like a crypto version of a recurring nightmare. 👻

MELANIA Price Outlook

On the 4-hour price chart, MELANIA continues its downward spiral within the lower Bollinger Band. The bands are contracting, suggesting a potential squeeze – which, in this case, will likely result in more downward movement. 🎉

MELANIA price chart | Source: TradingView

Meanwhile, the RSI is hovering around 36.29, getting close to oversold territory, but without a real reversal signal. If the sellers keep the pressure up, breaking below the key support at $0.40 could send prices plummeting toward $0.35. Buckle up! 🎢

This week, MELANIA seems to be breaking down from a descending triangle pattern formed since early April. Which, in layman’s terms, means things are probably going to get worse before they get… well, probably worse. 📉

MELANIA descending triangle pattern breakdown | Source: TradingView

This further confirms the likelihood of a continued decline unless, of course, a sudden surge of buying pressure materializes. But let’s be honest, stranger things have happened… but not often. 🤷

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2025-04-17 20:50