MELANIA token hits turbulence as developers allegedly offload $18 million in tokens

The MELANIA token, a memecoin linked to Melania Trump, has crashed over 96% from its peak of $13 to a low of $0.38, following allegations of insider selling. Blockchain data indicates developers sold 31.685 million tokens, converting them to 138,800 SOL (~$18.4M) over the past month using unilateral liquidity provisioning. This has raised concerns about insider-driven activity, with the token’s price slightly recovering to $0.5223, up 14% from its low. Show Less