MELANIA meme coin wallet dumps $4.6 million worth of Token as price drops

Memecoin MELANIA on the Solana platform, named after the former First Lady of the United States Melania Trump, is being closely monitored after a series of large token sales related to the project team.

On May 3rd, blockchain researcher EmberCN revealed that wallets associated with the project have sold nearly 10 million MELANIA tokens in just eight days.

Wallets linked to Melania have sold $23 million in tokens since March

These sales reached nearly $4.6 million, raising strong concerns about the project's long-term viability and the team's motives.

According to EmberCN, these sales follow a Medium Price (DCA) strategy along with unilateral liquidation. These techniques allow the project to reduce price impact while quietly exiting large positions.

Notably, this is not the first time the project has used this approach. In April, similar wallets sold 3 million tokens in exchange for approximately 9,009 SOL—around $1.2 million at the time—using a similar liquidation method.

Meanwhile, these sales have been ongoing for some time. Since mid-March, wallets have quietly liquidated approximately 41.67 million MELANIA tokens in exchange for around 170,000 SOL, valued at approximately $23 million.

EmberCN points out that most of the proceeds appear to have been converted to USDC and withdrawn. This suggests a continuous effort by the project team to exit large token positions.

Large-scale and repeated token sales by wallets associated with the project have raised doubts in the holding community.

Many are now questioning whether this meme coin is truly designed for long-term utility or simply created to leverage the name recognition of the former First Lady.

MELANIA launched in January 2025 amid media attention, driven by its brand and the timing of President Donald Trump's inauguration. However, that initial momentum quickly faded amid a weakening overall market, significantly affecting meme coins.

According to BeInCrypto data, the token is currently trading at around $0.38, down over 6% in the past day and 31% in the past seven days.

Notably, MELANIA has decreased by approximately 97% from its peak of $13.70 on January 20th.