Ah, the MELANIA memecoin—a digital bauble as enigmatic as its namesake. Recent whispers from the cryptoverse suggest that the team behind this Solana-based token has been engaged in a clandestine sell-off, shedding millions of tokens like a snake molting its skin. The result? A 7.1% price drop in 24 hours. Quelle surprise! 🐍
The ‘Silent’ Sell-Off: A Masterclass in Subtlety
On Thursday, the ever-vigilant on-chain sleuths at Lookonchain revealed that the MELANIA team has been quietly offloading their tokens for the past 25 days. Through a series of liquidity adds and pulls across multiple wallets, they’ve managed to unload 6.72 million tokens for 34,168 SOL (a cool $4.2 million). Bubblemaps, another blockchain detective, chimed in with a dire warning: “Huge sell-off on $MELANIA.” No kidding. 🕵️♂️
Bubblemaps further noted that the MELANIA team wallets, dormant for weeks, sprang to life in late March, sending $1 million to exchanges and siphoning over $2 million from liquidity pools. The post speculated that the team “may have seen the recent drop in attention as a window to quietly move funds while fewer people were watching.” Clever, no? 🕶️
On Monday, the plot thickened. The analytics firm revealed that the developers had shifted $30 million worth of tokens from community funds, “now being quietly sold, with no explanation from the team.” Instead of addressing the issue, they moved 50 million MELANIA tokens (valued at $30 million) to wallet Cq2Tj6, then split them across multiple addresses. Two new $6 million positions were opened, and over $3 million worth of tokens were sent to exchanges, with $500,000 already sold. The token’s price? Down 12%, from $0.55 to $0.48-$0.49. Ouch. 💸
The Puppet Masters: A Tale of Hubris and Hustle
In January, Donald Trump, the maestro of political theater, launched his own token, TRUMP, which shattered records for newly minted cryptocurrencies. Not to be outdone, the MELANIA memecoin followed, drawing ire and eye rolls in equal measure. 🎭
Enter Hayden Davis, the man behind the MELANIA memecoin and the infamous LIBRA Token debacle. Internet sleuth Coffeezilla, alongside Bubblemaps, exposed the connection between the two memecoins, revealing that MELANIA-linked addresses were tied to the Libra launch. Translation: “the creator of Melania—or someone close to their team—sniped their own launch.” Smooth. 🎯
In an interview with Coffeezilla, Davis admitted to being part of the MELANIA team, claiming they sniped the launch “because of how big the snipe was on TRUMP’s” token. He insisted they hadn’t swapped liquidity but “sold liquidations.” Bubblemaps, however, questioned the silence: “If it’s the team behind it, why stay silent? If it’s Hayden Davis, why hasn’t anyone stepped in?” Good question. 🤔
Last month, reports surfaced that Argentina’s authorities were seeking an Interpol Red Notice for Davis, who still controls the Libra token wallets, holding millions of dollars from investors. The Argentinian parliament is even forming a special committee to investigate the scheme, which allegedly involves President Javier Milei and his sister. Drama, drama, drama. 🍿
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2025-04-11 14:13