Melania memecoin team sells $1.5M tokens as price pumps 21%
The Official Melania Meme (MELANIA) token team sold over $1.5 million in tokens within three days, indicating a programmatic selling strategy that may exert downward pressure on the token. On April 28, the team sold $930,000 worth of tokens, following a $630,000 sale two days earlier. This selling pattern suggests a dollar-cost averaging (DCA) strategy, which aims to mitigate emotional decision-making in investments. Despite these sales, MELANIA experienced a 21% recovery over the past week but remains approximately 96% below its all-time high of $13.7 from January 20. Large investors are shorting the Official Trump (TRUMP) memecoin, with a whale wallet opening a $1.33 million short position. Memecoins represented 27% of global investor interest in Q1 2025, while AI tokens held over 35%. The launch of the TRUMP token and its poor performance may signal the end of the memecoin supercycle, as weekly usage on memecoin platforms has significantly declined.
