The team behind Melania Trump’s memecoin (MELANIA) has allegedly moved and begun selling $30 million worth of tokens from community funds without public explanation. The MELANIA token was launched on Jan. 19, just one day after former U.S. President Donald Trump introduced his own memecoin project. It also coincided with the date he was scheduled to re-enter the White House.
Blockchain Firm Uncovers Suspicious Token Transfers
According to blockchain analytics firm Bubblemaps, 50 million MELANIA tokens, worth around $30 million, were quietly taken out of the project’s community wallet. These community funds are usually set aside to support project development, marketing, or user incentives—not for private sales.
Bubblemaps said the tokens were first moved to a single wallet. From there, they were split into multiple smaller wallets, a common strategy to make large token movements less noticeable. The firm tracked $3 million worth of tokens sent to exchanges, where they could be sold, along with two separate wallets, each receiving $6 million worth of tokens. It was also noted that $500,000 in MELANIA had already been sold.
Despite these large movements, no one from the MELANIA team has made any public statements about the transfers or sales. Bubblemaps added that there has been “no explanation from the team” and warned that more sales may follow.
92% of MELANIA Supply Held By Insiders
One of Bubblemaps’ most concerning findings is that team wallets control 92% of the MELANIA token’s supply. This means most tokens are not in circulation among everyday users but are held by project insiders. This level of centralization increases the risk of price manipulation or sudden token dumps, which could hurt regular investors.
The analytics firm stated, “The damage isn’t done yet,” suggesting that further token sales could continue to harm the token’s value.
Since its January launch, MELANIA has lost almost all of its value. The token initially peaked at over $13, but it now trades at around $0.51 — a drop of over 96%. In the last 24 hours alone, the price fell more than 7%.
MELANIA’s fall comes when overall interest in memecoins is fading. According to data from Dune Analytics, the number of new memecoins launched through the Solana-based platform Pump.fun dropped sharply from 5,400 per week in January to just 1,500 per week in March.
Similarly, figures from SolScan show that only 31,651 new tokens were launched on Solana on April 5. This is far below the 95,578 tokens created on January 26, during the height of the memecoin boom.
