Melania Trump’s memecoin team ‘quietly sold’ $30M, says Bubblemaps
Neither the MELANIA team nor Hayden Davis has explained the token transfers or sales, which follow from sales Bubblemaps identified in March.
The team behind US first lady Melania Trump’s memecoin, Melania Meme (MELANIA), has moved $30 million worth of the token out of the project’s community funds and has begun selling them, says blockchain analytics firm Bubblemaps.
Bubblemaps said in an April 7 X post that 50 million MELANIA tokens worth around $30 million “was moved from community funds — and is now being quietly sold, with no explanation from the team.”
It added the tokens were moved to a single wallet before being “split across multiple addresses.” From there, Bubblemaps said $3 million worth were transferred to exchanges, two new $6 million positions were opened, and $500,000 worth of MELANIA was sold.
