"Melania Team Sells $4.65 Million Worth of MELANIA Tokens in the Last 8 Days, Converts to SOL"
Summary
- It is reported that the official meme coin project of Melania, MELANIA, sold $4.65 million worth of tokens in the last 8 days and converted them to SOL.
- The MELANIA project announced that it withdrew a total of 41.67 million tokens and converted them into 170,000 SOL, adjusting to a scale of $23.06 million.
- The acquired SOL is being sold sequentially and converted to USDC, with indications that it is being transferred or withdrawn to other chains, according to the analyst.
It is reported that the official meme coin project of Melania Trump, MELANIA, has sold a significant number of tokens over the past 8 days.
On the 3rd, on-chain analyst EmberCN reported via X (formerly Twitter) that "the MELANIA project has been quietly selling in the market by splitting sales into multiple transactions and adding to the liquidity pool over the past 8 days."
According to EmberCN, the MELANIA project has withdrawn approximately 41.67 million MELANIA tokens from community and liquidity wallets since mid-March, converting them into 170,000 SOL (approximately $23.06 million). The average selling price per token is estimated to be $0.55.
The analyst added, "The acquired SOL is being sold sequentially and converted to USDC, and there are indications that it is being transferred or withdrawn to other chains."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.