Melania Trump Revives Solana Meme Coin After Months of Silence
After months of silence, the First Lady promoted her Solana-based MELANIA meme coin in a brand new AI video.
Despite a short worth spike, the token continues to endure a 98% collapse from its all-time high in January. Trump additionally continues to face backlash over the $10 million price of group tokens offered by crew wallets.
New MELANIA AI Post Sparks Trading
Trump promoted her namesake meme coin this week on X by posting an AI-generated video. The submit was captioned “Into the Future” and tagged the coin’s official account.
The social media submit was a shock, reactivating an account that hasn’t uploaded something since June. This sudden transfer triggered a worth spike for the token, inflicting it to leap from $0.16 to $0.19 earlier than dropping again down. At the time of writing, the MELANIA token is buying and selling at $0.18, in line with CoinGecko.
However, the submit conspicuously lacked any remark from Trump addressing the tens of millions of {dollars} in token gross sales earlier this yr.
Crypto Analysts Raise Red Flags
In response to the information, blockchain analysts raised issues over how the crew behind the MELANIA meme coin dealt with group funds.
In April, the MELANIA venture moved and sold over $30 million worth of community tokens with out clarification, primarily based on on-chain knowledge tracked by Bubblemaps. The platform additionally highlighted that $10 million worth of tokens were removed from group swimming pools and offered.
This lack of communication drew criticism from analysts who argued the venture lacked transparency.
“Melania Trump received’t deal with the $10M of group tokens offered by crew wallets. Just submit an AI video after 10 months of silence,” Bubblemaps wrote in a social media submit as we speak.
In a separate occasion recorded that very same month, the MELANIA venture crew systematically offered over $1.5 million in tokens throughout three days, capitalizing on a short 21% worth restoration. They used a maneuver just like a Dollar-Cost Averaging (DCA) technique, conducting small, staggered gross sales slightly than a single huge dump.
This calculated strategy allowed the crew to dump many of their holdings, generate constant promoting stress on the token, and mitigate the danger of triggering a direct, catastrophic worth crash.
Controversy Over Presidential Tokens
Trump famously launched her meme coin on the eve of Donald Trump’s presidential inauguration. The token shortly surged, reaching a peak of $13.73 earlier than crashing. Its worth by no means recovered.
The MELANIA token launch shortly adopted the one launched by the President himself. Unlike MELANIA, TRUMP had more periods of success. The token skilled worth surges following key coverage bulletins.
The TRUMP token has additionally confronted vital public criticism, primarily pushed by accusations of market manipulation.
The controversy peaked in May when the President invited the top 220 token holders to an unique dinner at his Virginia golf membership. Critics closely scrutinized the occasion, arguing it was an inappropriate use of public office for private financial gain, particularly because the occasion’s publicity additionally elevated the token’s worth.
The submit Melania Trump Revives Solana Meme Coin After Months of Silence appeared first on BeInCrypto.
