United States First Lady Melania Trump seems to have resumed promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence, even as the project faces questions about millions of dollars in unexplained token sales.
In a Thursday post on X, Trump appeared in an artificial intelligence-generated video promoting the Official MelaniaMeme token as a path “into the future,” while tagging the account of the coin.
The crypto space on X were quick to react to this, especially blockchain analysts who noted that the video failed to address the controversy surrounding the project’s finances.
“Melania Trump won’t address the $10M of community tokens sold by team wallets. Just post an AI video after 10 months of silence,” blockchain data visualization platform Bubblemaps wrote on X, as it points to previous unexplained activity involving the token.
According to Bubblemaps, on April 7, the team behind the MELANIA token moved $30 million worth of community funds. The funds were allegedly sold without explanation, which questions the project’s transparency and investor trust. Additional sales worth $1.5 million were also reported in the three days leading up to April 28, during a period when the token’s price had jumped 21%.
Crypto intelligence group Lookonchain analyzed the transactions and said the pattern matched dollar-cost averaging, a strategy where assets are bought or sold in fixed amounts over time to reduce risk or influence. The sales added to the pressure on the project, which had already lost momentum after its early spike in value earlier this year.
At launch in January, the MELANIA token briefly traded above $13, but at the time of writing, it has dropped to $0.18, which is a loss of more than 98% from its peak, according to CoinMarketCap.
The project is also linked to Hayden Davis, a memecoin creator involved in several controversial launches in 2025. Davis co-created MELANIA alongside the Libra (LIBRA) token, which collapsed after insiders reportedly cashed out $107 million, and caused a $4 billion market cap wipeout in hours.
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