Melania Meme Coin Sees Huge Sell-Off, Price Drops 96% in Three Months

# Meme Coin Project 'Mellania' Sells Millions of Tokens, Leading to Price Drop The meme coin project ‘Mellania’ (MELLANIA), inspired by former First Lady Melania Trump, has reportedly offloaded millions of dollars worth of its tokens, sparking concerns about its financial strategies and token value. According to CryptoTimes on May 3 (local time), Mellania’s team sold 9.99 million tokens over the past eight days via strategies like unidirectional liquidity provision and dollar-cost averaging (DCA). These sales generated roughly $4.65 million, or about KRW 6.5 billion. # Major Token Movements Since March Since March 16, the Mellania team has moved 41.675 million tokens from community and liquidity wallets to external wallets, later selling them using similar strategies to obtain 17,000 SOL (currently valued at $23.06 million or about KRW 32.3 billion). The average token sale price is estimated at around $0.55. Blockchain analyst EmberCN provided further insights, noting that the team sold 23.45 million tokens in April alone, securing 110,000 SOL (approximately $14.75 million or KRW 20.7 billion). On April 19, they liquidated an additional 2.95 million tokens, gaining 9,009 SOL (about $1.2 million or KRW 1.7 billion). # Ongoing Liquidation Efforts Highlighted This isn't Mellania’s first significant token sale. On April 29, the blockchain analytics platform Arkham reported that the project team removed tokens worth about $1 million (approximately KRW 1.4 billion) from Meteora’s liquidity pool, moving them to a new wallet. Just a day earlier, on April 28, the team sold tokens worth $1.5 million (about KRW 2.1 billion) using DCA strategies. # Plummeting Token Price The series of extensive selloffs has caused a sharp decline in the token's value. After hitting a peak of $13.73 on January 20, Mellania's token value has plummeted by 96% over just 90 days. As of 9:30 p.m. (Korea Standard Time) on May 3, the token was trading at $0.38 on CoinMarketCap. # Transparency Issues Raise Concerns The Mellania team appears to be managing the SOL funds obtained through exchanges into USDC, cross-chain transfers, and withdrawals. However, the project’s official channels have yet to provide a clear explanation regarding the usage of funds or the reasons behind the ongoing token sales, leaving investors uncertain. This lack of transparency, combined with the recent selloffs, raises serious doubts about the project’s long-term viability and commitment to its investors.