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Melania Trump Memecoin (MELANIA) Crashes 96% Amid Whale Dumping and Low Engagement
The Melania Trump Memecoin (MELANIA) has suffered a devastating crash of 96% in the past three months, with its value plummeting to a new low. This sharp decline can be attributed to two primary factors: whale dumping and extremely low community engagement.
Since its launch, the MELANIA memecoin, associated with former First Lady Melania Trump, has been plagued by poor performance. Despite initially generating significant hype, it failed to garner sustained interest from investors and traders alike. The token’s low community engagement is a major red flag for market participants, who typically demand high levels of activity before investing.
Moreover, on-chain data reveals that the MELANIA team itself has been offloading their holdings, further exacerbating the decline in value. According to recent analysis by Lookonchain, the team sold 6.72 million tokens for a staggering amount of Solana (SOL) coins over the past 25 days.
In addition to these negative factors, traders have begun to question the long-term viability of MELANIA due to its inability to generate consistent price action and significant losses in recent months.
Source: https://coinpedia.org/price-analysis/melania-trump-memecoin-melania-crashes-96-amid-whale-dumping-and-low-engagement/
