Melania Trump’s Memecoin MELANIA Crashes 96% as Team Sells $30M in Tokens

The team behind Melania Trump’s Memecoin (MELANIA), a memecoin associated with U.S. First Lady Melania Trump, is under fire after allegedly moving $30 million worth of tokens from the project’s community funds and beginning to sell them — all without a public explanation.

According to blockchain analytics firm Bubblemaps, a total of 50 million MELANIA tokens — worth approximately $30 million — were moved on April 7 from community reserves to a single wallet. The funds were then split across multiple wallets, with at least $3 million sent to crypto exchanges, two $6 million positions opened, and around $500,000 already sold.

“No one from the MELANIA team has addressed this. Not the movements. Not the selling,” Bubblemaps stated in a post on X (formerly Twitter). The firm also highlighted that 92% of MELANIA’s total supply is currently held by team wallets, warning that “the damage isn’t done yet.”

From Peak to Plunge

MELANIA launched on January 19, coinciding with a memecoin push from the Trump family — arriving one day after Donald Trump released his own memecoin and a day before a planned return to the White House campaign trail. Initially priced over $13, MELANIA has since collapsed to $0.51, representing a staggering 96% drop. In the past 24 hours alone, the token fell another 7.5%, per CoinGecko data.

This isn’t the first controversy tied to the project. Bubblemaps previously identified Hayden Davis — who has admitted involvement in MELANIA’s creation — as secretly offloading tokens through single-sided liquidity. Davis was also linked to the controversial LIBRA memecoin, which was shared by Argentina’s President Javier Milei and later crashed, triggering a political scandal.

Memecoin Mania Fading Fast

The broader memecoin ecosystem is also losing momentum amid a general market downturn. Dune Analytics data shows that the number of tokens progressing from Solana-based launchpad Pump.fun has dropped from 5,400 per week in January to just 1,500 in March. Likewise, SolScan reports that only 31,651 new tokens launched on Solana as of April 5, down significantly from the 95,578 launched at the January peak.

While meme coins like MELANIA once thrived on hype and social buzz, the recent exodus of community funds, lack of transparency, and massive price losses may signal the end of their golden era — or at least serve as a cautionary tale for investors looking to ride the next viral coin.