US First Lady Melania Trump promoted her MELANIA token in an AI video, but questions linger over $10 million in team token sales and a 98% price collapse.
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US First Lady Melania Trump has resumed promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence, even as the project faces ongoing questions about millions of dollars in unexplained token sales.
In a Thursday X , Trump returned with an artificial intelligence-generated video promoting the token as the path “into the future,” tagging the official X account of the memecoin.
However, blockchain analysts were quick to note that the promotion did not address concerns over token sales by team wallets.
“Melania Trump won’t address the $10M of community tokens sold by team wallets. Just post an AI video after 10 months of silence,” blockchain data visualization platform Bubblemaps said in a Thursday X .
On April 7, the team behind the MELANIA token moved $30 million worth of community funds that were “quietly sold, with no explanation from the team,” according to blockchain data by Bubblemaps.
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In addition, the team behind the token worth of tokens in the three days leading up to April 28, following a 21% price increase during the previous week.
The selling patterns pointed to , an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, to crypto intelligence platform Lookonchain.
Cointelegraph has reached out to the offices of President Donald Trump and the first lady for comment.
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The MELANIA token has lost nearly all of its value since launching in January. The coin traded at $0.18 at the time of writing, down more than 90% from launch and 98% from its all-time high of $13.73, according to CoinMarketCap.
One of the founders behind the Libra (LIBRA) token, Hayden Davis, was also the co-creator of the MELANIA token and numerous other memecoins of the 2025 cycle.
In March, Davies launched a -themed memecoin with an insider supply of over 80%, which led to the token crashing by 99% within two days.
This came a few weeks after the Libra token’s collapse, where eight insider wallets , leading to a $4 billion market cap wipeout within hours.
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