After months of silence, US First Lady Melania Trump has resumed promoting her Solana-based memo coin, Melania Mate (Melania).
In Thursday’s X post, Trump returned with an artificial intelligence-generated video touting the official Melania meme token as a pass “to the future” and tagging Memocoin’s official X account.
However, blockchain analysts quickly realized that this promotion did not address concerns about token sales by Team Wallet.
Source: Melania playing cards
“Melania Trump won’t address $10 million in community tokens that Team Wallet is selling. After 10 months of silence, she’ll just post an AI video,” Blockchain Data Visualization Platform Bubblemaps said in an X post on Thursday.
According to blockchain data shared by Bubblembaps, on April 7th, the team behind Melania Token moved $30 million worth of community funds that had been “quietly sold with no explanation from the team.”
sauce: bubble map
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Additionally, the team behind the token sold an additional $1.5 million worth of tokens in the three days ending April 28th.
According to Crypto Intelligence Platform lookonchain, the selling pattern points to the Dollar Average (DCA).
Cointelegraph has reached out to the offices of President Donald Trump and the First Lady for comment.
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Melania token is down 98% from all-time high
The Melania token has lost almost all of its value since its launch in January. According to CoinmarketCap, the coin is down over 90% at $0.18 at the time of writing and over 98% from its all-time high of $13.73.
Melania/USD, the best chart ever. Source: coinmarketcap.com
Hayden Davis, one of the founders behind the Libra (Libra) token, was also the co-creator of the Melania token and many other memokines in the 2025 cycle.
In March, Davis launched the Wall Street-themed Memocoin with over 80% insider supply, leading to the token crashing 99% within two days.
This came a few weeks after the collapse of the Libra token. There, eight insider wallets liquidated $107 million in liquidity, resulting in a $4 billion market cap wipeout within hours.
https://www.youtube.com/watch?v=sumyysrjvzm
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