MELANIA Token Tanks 97% From Peak as On-Chain Data Reveals Insider Sell-Off

Sean Williams

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While the broader meme coin market flashed green on April 17, the Official Melania Meme (MELANIA) token bucked the trend, slipping 5% to hover around $0.40. The dip comes on the heels of a fresh wave of insider selling, sparking renewed fears among investors.

According to on-chain data, over 6 million MELANIA tokens were dumped in the past week through a coordinated sequence of liquidity additions and removals across eight wallets. Blockchain sleuth Lookonchain estimates a staggering 13 million tokens—worth over $8 million—have been offloaded for 60,304 SOL within the last month alone. The sell pressure coincided with an 11% jump in trading volume, reaching $17.1 million, a sign of increasing investor unrest.

Launched in January 2025 with heavy social media fanfare due to its association with former First Lady Melania Trump, MELANIA rapidly soared to a $2 billion market cap. But in just a few months, its value has plummeted over 97%, now resting at around $221 million. Analysts and investors alike are raising red flags, calling MELANIA a potential pump-and-dump scheme.

Last week, analytics platform Bubblemaps uncovered that 50 million tokens—valued at roughly $30 million—were shifted from the community fund to wallets linked to insiders. At least $500,000 worth of these tokens has already hit exchanges. Even more concerning, reports indicate that wallets tied to the MELANIA team control a staggering 92% of the total token supply. The controversial figure Hayden Davis, known for his role in the LIBRA meme coin debacle, has also been linked to these transactions.

Also Read: Melania Trump Launches MELANIA Memecoin, Joins Cryptocurrency Frenzy with TRUMP Coin Surge

From a technical standpoint, the coin is trading near the lower Bollinger Band on the 4-hour chart, with the RSI dipping to 36.29—approaching oversold territory. A descending triangle pattern and shrinking Bollinger Bands suggest a potential bearish breakout. If the $0.40 support fails, MELANIA could slide toward $0.35.

With insider activity raising alarms and technical signals pointing downward, investor sentiment around MELANIA remains fragile.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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