MELANIA Team Caught Manipulating Millions of Dollars in Tokens
Date: 2025-06-26 Author: Henry Casey Categories: BUSINESS
The team behind the MELANIA memecoin has found itself at the center of a scandal after the Lookonchain platform uncovered a scheme for mass token sales using 44 affiliated wallets. From February to June of this year, crypto assets worth the equivalent of 244,934 SOL, or approximately $35.76 million, were sold through these addresses.
Analysts note that the withdrawal of funds was not done through regular market orders, but through operations with liquidity pools — adding and then removing funds. This method allowed the team to avoid direct market competition, but at the same time, it collapsed the value of the MELANIA token. Since January, when the price peaked at $13.73, it has collapsed by more than 98%, falling to $0.20.
Bubblemaps platform expert Oluwalepumi Adejumo drew attention to the fact that over 90% of the issued tokens are still under the control of insiders. In his opinion, this indicates the questionable openness of the project and can be a serious signal for potential investors, especially when it comes to long-term investments.
Additional pressure on the project is being exerted by political figures. Senator Elizabeth Warren and Member of Congress Jake Auchincloss previously expressed concern that the TRUMP and MELANIA memecoins could be used as a tool for the personal enrichment of Donald Trump's family during his presidency. In their opinion, such schemes call into question the transparency of the cryptocurrency industry as a whole.
Information about large-scale internal sales and centralized control over assets calls into question the future of the MELANIA token. More and more participants in the crypto community believe that the project was created more for speculative purposes than for real use or long-term development.
Thus, the situation around MELANIA serves as a reminder of the dangers of investing in poorly regulated crypto projects, especially when the bulk of the tokens are in the hands of a limited number of people.
