The data shows that MELANIA developers have sold 9.99 million MELANIA over the past eight days, worth $4.65 million, both via DCA and one-sided liquidation. In total, since March 16, developers have sold tokens to raise approximately 170,000 SOL, worth $23 million. MELANIA, like many memecoins, operates on the Solana network, while US President Donald Trump’s TRUMP token operates on the Ethereum network.
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Despite the TRUMP token’s relative ability to hold its own in the market, MELANIA stands out with its extremely poor performance. The token has fallen 97% from its all-time high in January. TRUMP, on the other hand, is trading at a 83% lower level than its record high. However, TRUMP is among the major altcoins with a market cap of $2.54 billion, while MELANIA has a market cap of only around $200 million.
It is important to remember that both altcoins have completely speculative properties and have almost no use.
*This is not investment advice.
Continue Reading: Watch Out: Developers Keep Selling Large Amounts of This Altcoin
