MELANIA Meme Coin Experiences Drop Amidst Team Token Sell-Offs

The MELANIA meme coin has experienced a noticeable dip in price following recent movements of over $30 million from the project’s community funds, sparking concerns about further sales. On-chain analysis reveals that the team behind MELANIA exchanged 6.72 million tokens for approximately $4.2 million worth of SOL within a month, suggesting potential plans to offload more tokens held in reserves. While team members currently hold over 92% of the total token supply, this shift has raised doubts about their intentions regarding community funds. 8 different wallets have been identified as active in the trading activity.