Nearly all MELANIA token holders watched in horror as their investments evaporated this week, with the meme coin’s value plunging a staggering 96% from its peak. The culprit? Aggressive insider selling that drained an estimated $30 million from community funds and sent the token’s valuation tumbling from $1.9 billion to a measly $143 million.
MELANIA token holders lost everything as insiders drained $30M, crashing the meme coin’s value 96% from $1.9B to $143M.
The carnage traced back to several insider-linked wallets that dumped over $14.75 million worth of tokens. Arkham Intelligence identified one wallet holding a whopping 50 million MELANIA tokens – about 5% of the total supply – as a major source of the selling pressure. These insiders weren’t exactly subtle, either. They brazenly moved their tokens to exchanges like Kraken before initiating the selling spree. A concerning analysis revealed that team wallets controlled 92% of the total token supply. Previous transactions showed tokens being sold through Meteora on Kraken.
The damage was swift and brutal. Retail speculators took massive hits as liquidity dried up faster than a puddle in the Sahara. Trading volumes across major exchanges cratered, and trust in the project evaporated along with holders’ money. So much for the power of political star power – turns out having the Trump name attached doesn’t guarantee crypto success.
Red flags were everywhere, for those who bothered to look. Sudden large wallet movements? Check. Poor supply distribution? You bet. Rapid exchange deposits? Like clockwork. But hey, who needs due diligence when you’ve got hype, right?
The MELANIA crash wasn’t just an isolated incident. It contributed to a broader $15 billion wipeout in Solana meme coins, leaving only a handful of tokens showing gains during the period. The timeline tells the tale: after an initial surge post-launch, insider wallet activity ramped up in March and April 2025, culminating in the mid-April bloodbath that left investors shell-shocked.
Now the MELANIA token stands as a textbook example of meme coin volatility and insider risk. Just another day in crypto, where dreams of getting rich quick often end in nightmares of getting poor fast.
