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The MELANIA token, a memecoin tied to Melania Trump, faces scrutiny after blockchain analysts revealed developers may have offloaded $18M worth of tokens. The alleged sell-offs have sparked concerns about insider-driven activity and market manipulation.
- Developers allegedly sold 31.685M MELANIA tokens via unilateral liquidity provisioning, converting them into $18.4M worth of SOL.
- The token’s value plummeted 96% from its $13 peak to an all-time low of $0.38 following the sell-offs.
- Blockchain analysts highlight the lack of buyer involvement in the transactions, suggesting potential market manipulation.
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