U.S. First Lady Melania Trump returned to promoting her SOL‑based meme coin Melania Meme after a 10‑month absence, publishing an AI‑generated video on Thursday that called the token a path “into the future.” The promotion arrived as blockchain analysts continued questioning millions in unexplained token sales by project wallets.
Trump’s X post tagged the official Melania Meme account but made no reference to ongoing transparency concerns. Blockchain data platform Bubblemaps responded sharply, stating that the First Lady ignored $10 million in community tokens allegedly sold by team wallets. The platform criticized the posting of an AI video after months of silence without addressing fund movements.
On‑chain data tracked by Bubblemaps showed the MELANIA team moved $30 million worth of community tokens in April. The funds were sold without explanation from the project team, according to blockchain records. The April 7 transfers sparked criticism over the project’s lack of transparency around fund management.
Additional sales raised further questions about team activity. Blockchain intelligence firm Lookonchain identified $1.5 million in token sales over three days leading up to April 28. The sales followed a 21 % price increase during the previous week and resembled a dollar‑cost averaging pattern, where fixed amounts are liquidated at scheduled intervals.
The MELANIA token traded at $0.18 on Thursday, down more than 90 % from its January launch price. The decline represents a 98 % drop from its all‑time high of $13.73. Market observers noted the collapse mirrors broader memecoin volatility in 2025, where projects surged on initial hype before crashing amid insider selling pressure.
Hayden Davis co‑created the MELANIA token alongside other high‑profile meme coins during the 2025 cycle. Davis also helped launch the LIBRA token, which collapsed earlier this year when eight insider wallets cashed out $107 million in liquidity. The Libra sell‑off wiped out $4 billion in market value within hours.
In March, Davis launched a Wolf of Wall Street‑themed token with over 80 % insider allocation. That project lost 99 % of its value within two days of trading. Analysts said MELANIA struggled to separate itself from these controversies given overlapping development teams and investor networks.
The Office of the President and the Office of the First Lady did not respond to requests for comment on the token sales or renewed promotion.