Melania Token News
U.S. First Lady Melania Trump returned to promoting her SOL-based meme coin Melania Meme after a 10-month absence, publishing an AI-generated video on Thursday that called the token a path "into the future." The promotion arrived as some blockchain analysts continued questioning millions in token sales by project wallets.
Trump's X post tagged the official Melania Meme account but made no reference to the ongoing controversy. Blockchain data platform Bubblemaps responded by claiming the First Lady had ignored $10 million in community tokens allegedly sold by team wallets. The platform criticized the posting of an AI video without addressing fund movements.
On-chain data tracked by Bubblemaps claims the MELANIA team moved $30 million worth of community tokens in April. The funds were allegedly sold, but the project has not addressed the reported sale. The April 7 transfers have led some to criticize the project's transparency around fund management.
Additional sales raised further concerns. Blockchain intelligence firm Lookonchain identified $1.5 million in token sales over three days leading up to April 28. Lookonchain said the sales followed a 21% price increase during the previous week and resembled a dollar-cost averaging pattern, where fixed amounts are liquidated at scheduled intervals.
The MELANIA token traded at $0.18 on Thursday, down more than 90% from its January launch price. The decline represents a 98% drop from its all-time high of $13.73. Market observers noted the price collapse mirrors broader memecoin volatility in 2025, where projects surged on initial hype before crashing amid selling pressure.
Hayden Davis is reported to be a creator of the MELANIA token alongside other high-profile meme coins during the 2025 cycle. Davis was also reportedly linked to the LIBRA token, which collapsed earlier this year when eight insider wallets reportedly cashed out $107 million in liquidity. The Libra sell-off wiped out $4 billion in market value within hours.
In March, Davis launched a Wolf of Wall Street-themed token with over 80% insider allocation. That project lost 99% of its value within two days of trading. Analysts said MELANIA struggled to separate itself from these controversies given overlapping development teams and investor networks.
