qerranews 
In a dramatic turn for the Melania Meme (MELANIA) token, blockchain analytics firm Bubblemaps has accused the token’s team of quietly offloading $30 million worth of tokens from community funds, sparking fresh controversy in the already volatile world of memecoins.
On April 7, Bubblemaps posted a detailed thread on X (formerly Twitter) claiming that 50 million MELANIA tokens—valued at approximately $30 million—were moved from the project’s designated community funds into a single wallet. These funds were then split across multiple addresses, with $3 million reportedly transferred to crypto exchanges. In addition, two new positions worth $6 million each were opened, and $500,000 in MELANIA was directly sold.
Crucially, no one from the MELANIA team has publicly addressed the token transfers or sales. Neither Melania Trump’s team nor Hayden Davis—who previously stated he helped create MELANIA—has offered any clarification.
Bubblemaps further alleged that 92% of MELANIA’s token supply is still held by wallets associated with the project’s team, hinting that more sell-offs could be imminent. “The damage isn’t done yet,” the firm warned.
The memecoin, which launched on January 19—sandwiched between Donald Trump’s own memecoin debut and his scheduled return to the White House—has seen a catastrophic price drop. MELANIA has plummeted more than 96% from its January peak of over $13, now trading at just $0.51, according to CoinGecko. In the past 24 hours alone, it has dropped over 7.5%.
This isn’t the first time questions have been raised about MELANIA. In March, Bubblemaps revealed that Hayden Davis had been covertly selling MELANIA tokens using single-sided liquidity, a tactic that obscures token sell-offs from casual observers. Davis reportedly employed the same technique to unload LIBRA, another memecoin he admitted to creating. LIBRA was shared by Argentina’s President Javier Milei, and its collapse caused political fallout after its value crashed by 99%.
The broader memecoin market is also seeing a cooldown. According to Dune Analytics, activity on Solana’s popular memecoin launchpad, Pump.fun, has sharply declined. In January, it averaged 5,400 token launches per week. By March, that number had fallen to just 1,500. SolScan data echoed the trend, showing only 31,651 tokens were launched on Solana on April 5—down significantly from the January 26 peak of over 95,000.
As the hype around memecoins fades and scrutiny intensifies, the MELANIA token saga serves as a stark reminder of the risks involved in speculative digital assets—especially those tied to public figures and driven by hype over fundamentals.