In the last 25 days, the MELANIA team has successfully sold $4.2 million worth of tokens. Analysts specializing in on-chain data anticipate further sales of community tokens by the team.
Recent insights suggest that the MELANIA team has been actively adjusting liquidity across eight wallets. Over the course of the past month, they have exchanged 6.72 million tokens for 34,168 SOL, which has resulted in a total profit of $4.2 million.
On-chain investigators speculate this activity is part of a larger initiative to divest more tokens from the project’s community treasury. Data from analytics provider Bubblemaps indicates that the group responsible for the First Lady’s meme coin has been liquidating community tokens for several months now.
Just a week ago, the team executed a single-sided liquidity sale, offloading $2 million worth of tokens from community resources. Bubblemaps has claimed that the team has been discreetly selling significant amounts of its tokens without providing a clear rationale.
“Massive sell-offs involving $MELANIA, with $30M moved from community funds, are happening without any explanation from the team,” noted the account in a recent post.
At the time of writing, the official First Lady meme coin has decreased by 0.9% in the last 24 hours and nearly 10% over the past week. The Solana-based token is currently trading at $0.51, having recently dropped to a new all-time low of under $0.50 for the first time since its launch.
Are More MELANIA Token Sales Coming Up?
Analysis from Bubblemaps has revealed the team moved 50 million MELANIA tokens, roughly valued at $30 million, from community resources to another wallet, where they were subsequently distributed across various addresses.
Among these addresses, two wallets established new positions on-chain worth $6 million each. Additionally, another wallet transferred $3 million in crypto to exchanges, while tokens worth $500,000 were sold off.
This uptick in on-chain activity from the team’s wallets has led analytics experts to believe they are preparing to sell off more tokens. Presently, the team holds approximately 92% of the total token supply, as per Bubblemaps.
“No one from the MELANIA team has commented on this situation—the token movements or sales. If it’s indeed the team managing this, why remain silent? And if it’s Hayden Davis, why isn’t anyone intervening?” questioned Bubblemaps.