- The Melania team dumped more than 8% of the total range of token in four months.
- The sales pressure has set off more than 90% of the value of the token, without signs of recovery.
Since January, official Melania Meme [MELANIA] Has been in free fall in sight. It has dropped more than 90% in the last five months and drops from more than $ 14 to $ 0.2.
The Memecoin has fallen 60%since May and new lows has been hit, but the sharp decrease has stabilized near $ 0.20.
An important factor behind the sale seems to dump a heavy token by the project team.
Source: Melania/USDT, TradingView
Melania Dumping Spree Team
In the past four months, the project has been on the project Reportedly Sold more than 80 million Melania tokens, equal to around 8.12% of the total offer.
This contributed to more than $ 35 million from the liquidity of the memecoin.
Nevertheless, the team checked a large stock of the Memecoin. The top 10 holders in particular manage nearly 90% of the total supply (893 million tokens), so that late buyers are further exposed to the whims of the project actions of the project.
Apart from April and the beginning of May, the memecoin did not enjoy a strong rebound or purchasing pressure, despite a strong relief at the start of Q2.
In the same period, the trade volume on Dexes fell from nearly $ 12 million to less than $ 2 million – a decrease of 83% that emphasizes the interest of decreasing market in the memecoin.
Source: Solscan
The disinterest was not surprising considering the action and allegations of the team against Trump’s Family Crypto Empire.
According to a democrat legislatorsTrump reportedly earned more than $ 450 million from Trump and Melania Memecoins.
That said, Coinglass’ 7-day liquidation heat showed that the Memecoin print price is waving above $ 0.2 in the short term.
At the time of the press, the card indicated a pool of liquidity and magnetic zones for $ 0.19- $ 0.204 at the bottom of price action.
Source: Coinglass
At the top of the price action, another liquidity pool was between $ 0.222 and $ 0.228. This meant potential price fluctuations on both sides during liquidity -driven movements.
In conclusion, Melania has been bled almost zero since the debut, because the team dump on non-stop holders.
Credit : ambcrypto.com
