The Melania memecoin team just sold off over $1.5 million worth of tokens as prices staged a comeback. Meanwhile, President Donald Trump faces brand new impeachment calls over his own Trump memecoin—with one U.S. Senator slamming the president for selling access to top token holders.
Melania Team Cashes Out as Prices Recover
The team behind the Melania (MELANIA) memecoin offloaded another $930,000 worth of tokens on April 28, just days after selling $630,000, according to Lookonchain. That’s no coincidence. The token had bounced back 21% in the past week, even though it still sits 96% below its all-time high of $13.70 from January 20—Trump’s inauguration day, no less.
Crypto analysts flagged the sales as part of a dollar-cost averaging (DCA) strategy. This means the team is unloading tokens at regular intervals, regardless of price, to avoid emotional trading. But for token holders, this steady drip of selling likely feels more like slow bleeding.
Trump Memecoin Draws Political Backlash
While Melania’s team continues selling tokens, the focus has shifted to Trump’s memecoin and its growing controversy. The Trump (TRUMP) token jumped more than 50% after plans were announced for a private dinner at Trump’s Washington, D.C. golf club for the top 220 token holders.
But not everyone is impressed. During an April 25 town hall, U.S. Senator Jon Ossoff criticized the president’s involvement, saying Trump is “granting audiences to people who buy his memecoin,” according to NBC News. Ossoff argued that this behavior “rises to the level of an impeachable offense.”
The memecoin dinner plan is causing a growing political controversy. It’s raising concerns about whether Trump’s crypto moves could quietly fatten his own wallet.
As Trump-inspired memecoins like $TRUMP and $MELANIA spark ethical questions and volatile price swings, staying informed has never been more crucial for investors. This can be achieved by leveraging tools like TipRanks’ Cryptocurrency Center to track their favorite cryptos. Click on the image below to stay ahead in this rapidly changing space.
