A memecoin tied to former First Lady Melania Trump is experiencing a sharp decline in value, raising questions about the project’s future. On-chain data reveals that the token’s developers have been actively selling off portions of MELANIA, amounting to roughly $8 million in transactions over the past month. These sales involve swapping MELANIA for Solana (SOL), the platform where the coin operates. Further evidence of strategic price management comes from adjustments to the project’s liquidity pools, suggesting attempts to control price movements or facilitate exits by developers. 4 months after hitting a peak valuation of $2 billion, the token’s current market value has plummeted to around $223 million, representing a significant loss of over 96%. This decline coincides with a lack of listings on major exchanges such as Binance and Coinbase, potentially limiting its reach and visibility. While initially generating headlines due to its association with former First Lady Melania Trump, recent developments suggest that internal token movements may be overshadowing any long-term vision for the memecoin’s future.