Blockchain sleuths have uncovered that the team behind Melania Meme (MELANIA) — the memecoin linked to U.S. First Lady Melania Trump — has allegedly moved $30 million worth of tokens from the project’s community fund and has started selling them without any public explanation. According to analytics firm Bubblemaps, the movement occurred on April 7, when 50 million MELANIA tokens were pulled from the designated community wallet and funneled into a single address. From there, they were split into multiple wallets in what analysts call a classic distribution tactic often used to disguise large sell-offs. So far, around $3 million worth of tokens have already been sent to exchanges, two fresh positions worth $6 million each were opened, and $500,000 worth of MELANIA has been sold outright. Bubblemaps stressed that no one from the MELANIA team has responded or acknowledged the sudden movement and selling of funds, raising concerns of a potential exit strategy in motion. Majority of MELANIA Supply Controlled by Team One of the most alarming findings is that 92% of the entire MELANIA supply is controlled by team wallets, leaving very little in the hands of the actual community. “The damage isn’t done yet,” Bubblemaps warned, suggesting further sell-offs could be imminent. Launched on January 19, just a day after Donald Trump’s own memecoin went live and a day before his scheduled White House return, the MELANIA token had briefly enjoyed buzz within political and memecoin circles. But that hype has since evaporated. The token is now down over 96% from its all-time high of $13, trading at just $0.51, with another 7.5% drop in the past 24 hours, according to CoinGecko. Adding to the controversy is Hayden Davis, who previously admitted to co-creating MELANIA. Last month, Bubblemaps accused him of secretly dumping MELANIA tokens through single-sided liquidity pools, the same tactic he used to offload LIBRA, a memecoin tied to Argentine President Javier Milei that also collapsed, igniting political backlash in South America. Memecoin Craze Losing Steam The broader memecoin space isn’t looking much better. After a feverish start to the year, interest has sharply declined. Data from Dune Analytics reveals that memecoins graduating from Solana’s Pump.fun launchpad have dropped by over two-thirds since January — from 5,400 per week to just 1,500. Even token launches overall on Solana have dipped . On April 5, only 31,651 tokens were created, compared to a whopping 95,578 on January 26, the peak of this year’s memecoin mania. The post $30M Drained from Melania Trump Memecoin as Team Remains Silent appeared first on TheCoinrise.com .
