On-Chain Data Reveals Fund Movements
Blockchain analytics firm Bubblemaps has accused the team behind Melania Meme (MELANIA), a Solana-based coin tied to U.S. First Lady Melania Trump, of quietly offloading over $30 million worth of tokens.
According to Bubblemaps, team wallets moved 50 million MELANIA tokens, with millions already sold or transferred to centralized exchanges. The report noted the silence from launch strategist Hayden Davis and the project team, raising transparency concerns.
Repetition of Questionable Patterns
The tactics resemble previous behavior from Davis during the LIBRA token collapse. Bubblemaps, in partnership with YouTuber Coffeezilla, linked Davis to a network of wallets controlling 92% of MELANIA supply — leaving retail investors exposed.
“This is insider trading by another name,” warned Dominika Stobiecka, co-founder of token compliance platform Toku. “The market cannot thrive if it functions like a rigged casino.”
Market Reaction and Continued Risks
MELANIA has dropped 95.4% from its all-time high, trading at $0.5488. With no official response and continued token outflows, Bubblemaps warned the damage may not be over.
