The team behind the Melania-themed memecoin has offloaded over $1.5 million worth of tokens in the past three days, despite a noticeable 21% increase in the token’s price over the past week. According to on-chain data, the sales were executed in two separate transactions, one worth $630,000 and the other $930,000, spread across April 26 and April 28. These transactions have raised concerns among observers, who suggest that such programmed sales might create downward pressure on the token’s price going forward.
Blockchain tracking platform Lookonchain pointed out that the selling strategy used by the team resembles a method known as dollar-cost averaging (DCA), commonly used by investors to reduce volatility risk when entering or exiting a market. Rather than selling all at once, the Melania memecoin team appears to have sold at set intervals and amounts. Lookonchain also highlighted that the team was not merely adding or removing liquidity, but directly selling tokens into the market over time.
Despite this wave of token sales, the price of the Official Melania Meme token (MELANIA) has risen over 21% during the past seven days. However, it still trades nearly 96% below its all-time high of $13.70, which was recorded on January 20, 2025 — coinciding with the date of Donald Trump’s inauguration. As of now, the token’s price recovery seems shallow compared to the level of losses suffered since its peak.
Investor interest in political-themed memecoins remains, though some large traders appear to be positioning for declines. Lookonchain also reported that a newly created wallet had opened a short position worth $1.33 million against the Trump memecoin, anticipating a drop in its price. The trade was placed with 2x leverage and would be liquidated if the token’s price surpasses $21.50.
The rise and fall of these tokens reflect a wider trend in the cryptocurrency market in early 2025. According to CoinGecko, memecoins were among the most popular themes during the first quarter of the year, second only to artificial intelligence-related tokens. Memecoins accounted for 27% of the global crypto investor interest during the period. However, user activity on memecoin-related platforms like Pump.fun has declined sharply since January, indicating that market attention may be shifting away from this category.
