, over the past four months, accounting for 8.22% of the total supply. The price of MELANIA has fallen sharply from $1.22 to $0.20, a drop of 80% since the beginning of the sell-off. According to LookonChain, the team has sold tokens through 44 wallets, avoiding the oversight of the cryptocurrency community by strategically adding and withdrawing liquidity, reaping 244,934 SOL, equivalent to $35 million.
The community expresses concerns about the transparency and tokenomics of the project, especially as development is stagnating. The official documents acknowledge that this token “has no function” and there are no plans for reinvestment. This makes MELANIA a purely meme coin, with no utility, despite a market capitalization of 127 million.
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