The team behind Melania Trump’s Memecoin Melania Meme (Melania) is under fire. The blockchain analysis company has a bub problemap recently uncoveredthat secretly token worth several dozen millions of dollars from the community fund were sold. A remarkable campaign because the project has lost massive value since then.
$ 30 million in Melania secretly postponed and sold
According to the report from BUB Problemaps to X, a total of 50 million Melania tokens were postponed from the project’s community stock. These tokens had an estimated total value of $ 30 million and were initially transferred to a single wallet.
The tokens were then split up and distributed over several addresses. According to the analysts, Melania tokens worth $ 3 million were sent to stock exchanges, two new positions of $ 6 million each were opened and around $ 500,000 actually sold in Token.
It is striking that not a single member of the Melania team has reacted to the allegations. So far, both the transfers and the sales actions have remained uncommented.
Short life of the “First Lady Memecoins”
The Melania token was on January 19th introduced – Exactly one day after the start of Donald Trump’s Memecoin and shortly before the couple should probably move into the White House again.
At the end of January, Melania reached its maximum value of over $ 13, but today is only $ 0.51-a decrease of 96 percent.
Hayden Davis also shot, interest in memo cinema decreases
The criticism is not only aimed at the team behind Melania. Also Hayden Davis, who previously participated in the development of Melania and the controversial Libra-Coins had granted, is now under special observation. Last month, bubbles had already reported that Davis had started to sell Melania. A tactic that he had previously used at Libra.
The Melania scandal falls at a time when the general interest in Memecoins apparently decreases. According to data from Dune Analytics, the number of newly introduced memoins has dropped by more than 67 percent since January. While in January over 5,400 new Memecoins came onto the market per week, this number is now only 1,500.