Melania Foundation Continues to Sell, Leading to Over 7% Drop

Son Min

Summary

The Melania Foundation's continuous selling of Melania Coin is causing a price decline.
It was reported that approximately 23.45 million Melania were sold in the past month, leading to a price drop of about 27%.
According to CoinMarketCap, the current price of Melania Coin is down 6.95% compared to the previous day.

The Melania Foundation, associated with U.S. President Donald Trump, continues to sell off its holdings of the First Lady meme coin, Melania (MELANIA). The price of Melania is also on a downward trend.

On the 28th (local time), Lookonchain announced on X (formerly Twitter) that "The Melania Foundation sold 2.01 million MELANIA (approximately $940,000) through a split sale today," and "Two days ago, they sold 1.18 million MELANIA (approximately $630,000) in the same manner."

Meanwhile, the Melania Foundation is facing criticism from investors due to its ongoing sales. Over the past month alone, the foundation has sold a staggering 23.45 million MELANIA (approximately $14.74 million). Consequently, Melania has also dropped about 27% over the past month.

As news of the foundation's sales spread, the price continued to decline today. As of 4:02 PM, according to CoinMarketCap, Melania is trading at $0.4544, down 6.95% from 24 hours ago.

MELANIA