$MELANIA Insider Wallet Moves Spark Token Dump Concerns in Crypto Community

Jakarta, Pintu News – Suspicious activity from a digital wallet affiliated with the $MELANIA token team is back in the spotlight of the cryptocurrency community. According to a report from Arkham Intelligence, the wallet recently sent $1.87 million in $MELANIA tokens – equivalent to around Rp30.5 billion – to a new wallet.

The wallet previously received 50 million $MELANIA, or 5% of the token’s total supply, from the development team. This activity has led to speculation that a token dump in the near future is highly likely.

Suspicious Activity and Previous Selling Patterns

The wallet Arkham is monitoring has previously distributed tokens to exchanges such as Kraken and Meteora several times, where they were sold. The repetition of a similar pattern now raises concerns that the wallet’s owners are planning to release more tokens to the market. The vesting schedule of $MELANIA also adds to the concerns, with 2.25% of the supply released each month and the first period having started since February 19, 2025.

The crypto community’s reaction was mixed. Many users on the X platform (formerly Twitter) voiced suspicions that Melania’s team members were again preparing for a massive dump, a practice often associated with pump and dump schemes that harm ordinary token holders.

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Price Spike and Drastic Drop of Political Tokens

The phenomenon of political-themed token launches began when Donald Trump launched the $TRUMP token, which instantly created euphoria in the Solana ecosystem. The token’s market capitalization briefly reached $15 billion, but then plummeted 40%-equivalent to Rp97.8 trillion-after the surprise launch of the $MELANIA token by First Lady Melania Trump.

The $MELANIA token surged 24,000% in a matter of hours to reach a peak price of $13 (IDR 211,900). However, the trend did not last long; the value plummeted 80% in just a few days and dropped to the level of IDR 12,400 in mid-February. The inequality of token distribution as well as centralized ownership are back in the spotlight.

Another Political Token and its Impact on Solana

$MELANIA isn’t the only politically-themed token to stir up controversy. Argentine President Javier Milei promoted the $LIBRA token, which skyrocketed from zero to nearly $5 (IDR81,500) before falling more than 80% due to a sudden sell-off by insider wallets. Approximately Rp1.75 trillion was withdrawn from the market in a short period of time, causing such political uproar that impeachment was proposed by the opposition.

Similarly, the $CAR token launched by the President of the Central African Republic, with a market capitalization of IDR 13 trillion, lasted only a few minutes before crashing 84%. This series of events has raised widespread concerns in the crypto community that the trend of launching political tokens has only become a means of momentary speculation without a long-term commitment to ecosystem building.

Impact on Solana Ecosystem and Crypto Reputation

According to analysis from DEXScreener and Nansen, the combination of $TRUMP, $MELANIA, $CAR, and $LIBRA tokens is estimated to have siphoned off between €58 trillion and €107 trillion worth of liquidity from the Solana memecoin market. This activity has also worsened sentiment towards the Solana network, with a decline in the number of active addresses and transaction volumes, as well as a depreciation of the SOL token price by around 40% since the beginning of the year.

Some in the crypto industry are beginning to question how this trend is affecting the reputation of cryptocurrencies in general. If Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- was previously known as “digital gold” and an alternative symbol to the traditional financial system, now the wave of politicalecoins is considered to tarnish the credibility of crypto as an investment instrument and long-term transaction tool.

Conclusion

The resurgence of $MELANIA insider wallet activity is an important signal for the crypto community to remain vigilant to the dynamics of tokens launched by public figures. While short-term hype offers great benefits to some, the impact on the ecosystem, reputation, and investor trust can be long-term and detrimental. This case serves as a reminder that transparency, fair distribution, and developer intent are critical elements in the sustainability of cryptocurrency projects.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cryptopolitan. Melania Insider Wallet Dump on the Way?. Accessed March 21, 2025.
• Featured Image: The Hill