Blockchain analysis reveals that the team behind the MELANIA meme coin has sold over 82.18 million tokens—amounting to 8.22% of the total supply—over the past four months. Despite a high-profile market debut and viral branding, MELANIA’s price has steadily declined, mirroring the broader downturn in the meme coin sector.
According to on-chain research firm Lookonchain, MELANIA tokens were distributed through 44 wallets, with sales executed discreetly via liquidity manipulation rather than direct market sell orders. This strategy allowed the team to sidestep broader detection while realizing profits.
The liquidation strategy netted 244,934 SOL, equivalent to approximately $35.68 million at current Solana prices (~$145.68). The pattern of gradual, fragmented sales has triggered widespread concern about the project’s long-term intent and tokenomics.
Fueling further doubt is the project’s own admission that MELANIA offers “no functionality” and carries no development roadmap. There are no stated plans to reinvest token sale profits into development, ecosystem building, or community engagement—an increasingly common red flag in the meme coin space.
Despite this, MELANIA’s market capitalization continues to hover around $127 million, a figure many find surprising given the absence of utility or innovation.
In June, the project announced a partnership with top market maker Wintermute, aimed at bolstering liquidity and reducing price volatility. Blockchain tracker EmberCN reported that 150 million MELANIA tokens, then valued at around $50 million, were moved from the project’s community wallet to new addresses—including 20 million tokens sent to Wintermute.
While the partnership helped reduce slippage across trading platforms, it failed to stop MELANIA’s slide. Over the past 60 days, the token’s value has dropped 59%, despite sporadic price recoveries.
As MELANIA’s price continues to fall, community skepticism has grown. Traders originally attracted by the brand recognition and marketing blitz are now raising alarms over the team’s aggressive sell-offs and lack of transparency.
One user reflected a broader sentiment:
“The Trump token wrecked the entire crypto market when it was on an upward swing… then came the Melania token to put icing on the cake.”
Despite the criticism, MELANIA remains one of the more prominent tokens in the PolitiFi sector. Some analysts argue that the Wintermute partnership signals institutional interest in meme coins—if only from a market-making standpoint rather than a belief in long-term project value.
June 2025, Cryptoniteuae