Melania Trump revives memecoin promotion amid $30M token sale concerns

2-10-2025 – First Lady Melania Trump returned to promoting her Solana-based memecoin Thursday after a 10-month silence, posting an AI-generated video endorsing the MELANIA token without addressing ongoing concerns over millions in unexplained token sales by team wallets.

Blockchain analytics firm Bubblemaps flagged that the token’s team moved $30 million worth of community funds on April 7 that were “quietly sold, with no explanation,” according to on-chain data. The team also liquidated an additional $1.5 million in tokens during the three days before April 28, following a 21% weekly price surge. Crypto intelligence platform Lookonchain identified the selling pattern as dollar-cost averaging, suggesting systematic profit-taking by insiders.

The MELANIA token has collapsed 98% from its all-time high of $13.73, currently trading at $0.18 according to CoinMarketCap. The project shares a co-creator with the troubled LIBRA token—Hayden Davis—who also launched a Wolf of Wall Street-themed memecoin in March that crashed 99% within two days after revealing an 80% insider supply. Davis was previously linked to the LIBRA collapse, where eight insider wallets extracted $107 million in liquidity, triggering a $4 billion market cap wipeout within hours.

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