Melania Memecoin Fund Transfer: Another 1.4 Billion Withdrawn

# Melania Meme Coin Team Withdraws $1 Million in Tokens, Raising Investor Concerns The team behind Melania Meme Coin (MELANIA) has withdrawn about $1 million worth of tokens, transferring them to a new wallet. This has sparked investor concerns regarding the project's credibility. According to blockchain analytics platform Arkham, on October 29 (local time), the Melania Meme Coin team removed nearly $1 million worth of MELANIA tokens from the liquidity pool on Meteora. These tokens were then transferred to a newly created wallet. Meteora is a decentralized trading platform that uses a dynamic Automated Market Maker (AMM) pool to enhance capital efficiency and support various asset compositions. # Pattern of Token Movements and Liquidation Strategies Historically, the Melania development team has liquidated withdrawn tokens via the decentralized exchange aggregator Jupiter. They convert them into Solana (SOL) and then deposit the proceeds into the MEXC exchange. This latest withdrawal is seen as part of a profit-taking or liquidity management strategy. On October 28, the team used a Dollar Cost Averaging (DCA) approach, selling about $1.5 million worth of tokens. The DCA method divides transactions into smaller, systematic intervals to minimize market impact. # Mounting Concerns Over Transparency and Sell-off Risks The repeated liquidation of tokens by the Melania team has amplified concerns about further sell-offs. The team has previously faced allegations of consistently disposing of internal funds. Recently, evidence emerged suggesting they sold about $30 million in community funds, raising more questions about the transparency and trustworthiness of the project. Investors have expressed concerns that such practices could disproportionately disadvantage retail investors. However, some industry voices defend these actions, claiming no one has incurred losses due to these profit-taking strategies and citing them as legitimate practices. # MELANIA Token Sees Price Decline Amid Growing Skepticism Following these revelations, the price of Melania Meme Coin has dropped. As of October 30, 10 a.m. KST, MELANIA traded at $0.4055 on Meteora, marking a 9.8% decline from the previous day. Trading volume and market capitalization have also decreased by over 9%, reflecting the growing uncertainties surrounding the project's future. Investors are closely monitoring the developments, given that the project’s actions could set a precedent for transparency and accountability within the rapidly growing meme coin space.