The team behind Melania Trump Memocoin's Melania sold more tokens despite concerns about the Rag Pull. According to Embercn, the team sold more of 1,2685 million Melania tokens worth $5.41 million.
According to the report, they sold tokens by adding unilateral fluidity to the melania/solubility pool and withdrawing the SOL. The latest sales suggest that following previous sales of nearly $15 million worth of tokens by the team, they could continue to dump until supply runs out.
Embercn noted that since March 16, the team has sold and sold 31.685 million Melania tokens from community and liquidity addresses by adding unilateral liquidity. Through the sale, the Melania team has accumulated 138,800 Sol, worth $18.41 million.
The ongoing sale of tokens without communication from the team led to speculation about what the team's intentions were. However, the reputation of the people behind the project suggests that it could be an insider's attempt to win cash.
So far, only 550 million of the largest supply of tokens have been in circulation. The team has an allocation of 35% of its total supply, and will be unlocked 10% 30 days after launch, with the rest gradually unlocking through linear bests for the next 13 months.
Despite continued sales, Melania spikes
Interestingly, Melania has seen a significant increase in its value over the past 24 hours despite the sale. According to CoinmarketCap, the token won over 15% today, moving from $0.4536 to $0.5365.
The price has since dropped to $0.5217, but still has an almost 30% increase over the past seven days. However, the current price is below the average selling price of $0.581 for tokens sold by previous teams.
The surge in Melania values comes mainly from the announcement that President Donald Trump will have dinner with the owners of the top 220 Trump Memocoin. With exclusive dinner news, Trump Token witnessed a massive surge in value, and Melania also benefited from it.
Interestingly, the general crypto market also enjoyed a positive turn during the period, with Bitcoin reaching $95,000 again, while the ether violated $1,800 for the first time since April 6th.
Melania is unlikely to return to previous highs
However, recent profits simply mask what has been a substantial decline in the value of Melania tokens. Despite these benefits, tokens are still well below peak values. This means that multiple holders are likely to be red.
According to Coingecko, Melania peaked at $13.05. This means that it's down 96% from current prices. The chances of returning to that level are relatively slim, especially as interest in Memecoin continues to fade.
His counterpart, Trump, hasn't done anything more. After today's profit, it is still 81% below its all-time high of $73.43, indicating that the increase in interest, which contributed to a 24-hour trading volume of $22.9 billion, is not enough to maintain upward momentum.
