U.S. First Lady Melania Trump has resumed promoting her Solana-based memecoin MelaniaMeme (MELANIA) after a 10‑month hiatus, even as the project faces questions over millions of dollars in token sales. In an X post on Thursday, Trump shared an AI‑generated video calling the MELANIA token a path “into the future” and tagged the coin’s official account.
The post comes as blockchain analysts continue to raise concerns over the handling of community funds. Data published by analytics platform Bubblemaps highlighted that Trump’s renewed promotion ignored unresolved questions around large token sales by team wallets.
Unexplained Token Sales Raise Red Flags
In April, the MELANIA team moved $30 million of community tokens that were sold without explanation, according to on‑chain data tracked by Bubblemaps. The sales prompted criticism from analysts who said the project lacked transparency. “Melania Trump won’t address the $10M of community tokens sold by team wallets. Just post an AI video after 10 months of silence,” Bubblemaps wrote on Thursday.
Additional transactions in late April added to concerns. Blockchain intelligence firm Lookonchain reported that wallets linked to the team sold $1.5 million worth of tokens over three days after MELANIA gained 21 % in a week. The pattern resembled a dollar‑cost averaging strategy, where small amounts are liquidated at regular intervals.
Neither the Office of the President nor the Office of the First Lady responded to requests for comment.
Token Down 98% From Peak
The MELANIA token has shed nearly all its value since launch. It traded at $0.18 on Thursday, down more than 90 % from launch and 98 % below its all‑time high of $13.73, according to CoinMarketCap. Market analysts say the collapse mirrors broader volatility in the 2025 memecoin cycle, where projects surged on hype before crashing as insider sales mounted.
The founder network behind MELANIA has faced repeated controversies. Hayden Davis, co‑creator of the token, also helped launch the Libra (LIBRA) memecoin and several other high‑profile projects. In March, Davis rolled out a Wolf of Wall Street‑themed token with an 80 % insider allocation. That coin lost 99 % of its value within two days of trading.
Earlier this year, the Libra token collapsed after eight insider wallets cashed out $107 million in liquidity, wiping out $4 billion in market value almost instantly. Analysts said MELANIA has struggled to distance itself from those events, given the overlap in development teams and investor networks.
Questions Over Celebrity Tokens
Melania Trump’s involvement has drawn attention to the risks surrounding celebrity‑branded digital assets. The use of an AI‑generated video to re‑launch promotional efforts raised eyebrows among analysts, who argued the campaign sidestepped material concerns over token governance and sales. The absence of official statements from the Trump family has further fueled speculation about accountability and oversight.
For now, MELANIA remains a low‑value, high‑risk memecoin whose trading activity is overshadowed by allegations of insider enrichment. While celebrity endorsements have temporarily boosted visibility, the project’s trajectory suggests limited recovery unless transparency issues are addressed.