MELANIA memecoin team, named after US First Lady Melania Trump, transferred $30 million worth of tokens from the project’s community funds and started selling them. On April 7 50 million MELANIA coins selling started without any explanation from the team.
First, the tokens were transferred to one wallet and then distributed to several addresses. With these addresses, two new positions for $6 million were opened, more than $3 million were sent to exchanges, and $500 thousand worth of tokens have already been sold.
Overall, 92% of MELANIA’s supply is held in the «wallets of the» team, and so far the sale has not had a negative impact on the token.
The MELANIA token was launched on January 19, a day after the TRUMP memecoin was launched. Since its launch, the coin lost more than 96% from its high in January (about $13) and is trading at $0.51.
It is believed that Hayden Davis had a hand in the creation of MELANIA is the same man behind the controversial LIBRA coin promoted by Argentine President Javier Millais. Davis used similar silent sales tactics to get rid of LIBRA in his time.
Source: Bubblemaps
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