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Melania Trump Promotes MELANIA Token Despite Team Sale Concerns
Key Takeaways
- Melania Trump returned after months of silence with an AI video promoting her memecoin MELANIA as the token’s value continues to decline;
- Analysts flagged $30 million in MELANIA tokens moved from team wallets in April, followed by another $1.5 million sold after a short price surge;
- Lookonchain suggested the wallet sales fit a dollar-cost averaging strategy, though the team has offered no explanation to the public.
Melania Trump has re-emerged to support her meme coin, MelaniaMeme (MELANIA), after a long break from the public conversation around her cryptocurrency project.
Her latest promotion came in the form of a video created using artificial intelligence (AI), in which she described the token as a step "into the future". The post tagged the official account of the meme coin on X.
The timing of Melania's return coincides with ongoing concerns about recent activity involving wallets associated with the project team.
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Blockchain monitoring groups noted that her post did not mention any of the unresolved questions about large sums of MELANIA tokens being moved and sold.
According to data shared by Bubblemaps, a platform that tracks blockchain transactions, around $30 million worth of community-held tokens were transferred from team wallets on April 7.
These tokens were reportedly sold without explanation to the public. Later in April, an additional $1.5 million in tokens was sold over a three-day period, following a 21% price increase.
Lookonchain stated in a post on X that this pattern of sales suggests the team may be using a common trading method known as dollar-cost averaging (DCA). This approach involves buying or selling fixed amounts of an asset at regular intervals, typically to mitigate the impact of market fluctuations.
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