The post Melania Meme Token Team Quietly Sells $1.5M—Is More Selling Coming Soon? appeared first on Coinpedia Fintech News
Official Melania Meme token (MELANIA) has been making waves lately as its team quietly cashes out. Over the past few days, they’ve sold more than $1.5 million worth of tokens. Interestingly, instead of dumping all at once, they used a steady selling method called the “Dollar-Cost Averaging” (DCA) strategy.
With this approach, the question on everyone’s mind is, Will there be more selling soon?
Team Sells $1.5M Using DCA
According to blockchain tracking platform Lookonchain, the Melania team didn’t just add or remove liquidity to sell tokens. They actively employed a DCA strategy, which means selling small portions at regular intervals instead of a big sell-off.
Two days ago, the team sold about 1.18 million MELANIA tokens, receiving 4,230 SOL tokens in return, worth around $632,000 at that time. But the selling didn’t stop there.
Today, they continued their DCA pattern, selling another 2.01 million MELANIA tokens, grabbing about $938,000 more.
Is More Selling Upcoming?
While there’s no clear confirmation yet, looking at their past smart selling moves, it seems likely that the Melania team could sell more tokens soon. However, another round of selling might be just around the corner.
Traders Bet Against Trump’s Memecoin
Melania token isn’t the only one seeing massive trading activity — big investors are also making bold moves against the Official Trump (TRUMP) memecoin. A newly created whale wallet has opened a $1.33 million short position, betting that the TRUMP token’s price will fall.
This short uses 2x leverage and would be liquidated if TRUMP’s price rises above $21.50. As of now, the Trump memecoin is trading around $14.92, reflecting a small 1.6% increase over the past 24 hours, with its market cap reaching $2.98 billion.
This major short bet shows that not everyone is confident about the future of memecoins linked to big celebrity names.
Impact on MELANIA Token
Despite the heavy selling, MELANIA has managed to show some strength recently. Over the past seven days, the token’s price has jumped by more than 20%. While, in daily trading, MELANIA is down by about 6%, currently sitting around $0.45 with a market cap of $247.7 million.
Even with the recent recovery, the token remains about 95% below its all-time high of $13.70, which it had reached during Donald Trump’s inauguration week back in January.