The post Melania Trump Memecoin (MELANIA) Crashes 96% Amid Whale Dumping and Low Engagement appeared first on Coinpedia Fintech News
The value of the Official Melania Meme (MELANIA) has recorded a decline of more than 96 percent in the past three months. The memecoin, which is associated with First Lady Melania Trump, has failed to gain significant traction akin to the Official Trump (TRUMP) memecoin.
Moreover, the latter has maintained a market cap and a fully diluted valuation of above $1 billion after launch, but MELANIA’s keeps on declining. As of this writing, MELANIA had an FDV of about $515 million and a reported 24-hour average trading volume of around $22.77 million.
MELANIA Whales Keeps Dumping
The MELANIA meme project has heavily been criticized for its low community engagement after its hyped launch. In the past few months, on-chain data shows early adopters of MELANIA have been dumping, thus weighing down on bullish recovery.
Source : lookonchain X Post
According to on-chain data analysis from Lookonchain, the MELANIA team has been offloading their holdings through tampering with the liquidity pools. Precisely, the MELANIA token team sold 6.72 million tokens for 34,168 Solana (SOL) coins, during the last 25 days. Lookonchain noted that the MELANIA team has been adding and removing liquidity across 8 wallets in the recent past.
Midterm Market Expectations
Following the strategic move by the Donald Trump administration to pause reciprocal tariffs, with the exception of China, for 90 days, the wider crypto market has signaled bullish sentiment akin to the stock markets. Moreover, Trump posted on TruthSocial that more great days are coming after Wednesday’s moves.
As a result, the MELANIA price, in the 1-hour timeframe, has formed a potential reversal pattern, characterized by an inverted head and shoulder pattern coupled with a bullish divergence of the Relative Strength Index (RSI).
Source : Tradingview
From a technical analysis standpoint, MELANIA price must consistently close above the established falling logarithmic trend to confirm a successful reversal pattern.
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