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In this altcoin, the developer team continues to quietly sell tokens! They Dumped the Price Thoroughly!
According to Onchain data, developers are selling hefty tokens in a memecoin that once flashed out of nowhere.
MELANIA, the memecoin launched by US First Lady Melania Trump, the wife of US President Donald Trump, and which has been the subject of fraud discussions, is the subject of some interesting transactions according to onchain data.
Onchain data revealed that the development team behind the MELANIA memecoin sold heavily by adding and removing liquidity for the token. The data revealed that the team sold 13 MELANIA worth $8.02 million in the past month. The tokens were exchanged for Solana's native coin, SOL, the network on which MELANIA operates.
MELANIA, which reached a market capitalization of over $2 billion when it was first launched, has a market capitalization of $223 million. The token has not been listed on major centralized cryptocurrency exchanges, with Donald Trump's official memecoin TRUMP failing to achieve the partial success it has achieved.
MELANIA is trading at about 96% lower than its all-time high price of around $13 and has only been around four months since its launch.
NOT INVESTMENT ADVICE
#BTC #ETH #SOL #GateLive