Melania Trump’s Meme Coin Faces Accusations of Soft Rug Pulls
The Melania Meme coin, launched by Melania Trump, faces allegations of executing a soft rug pull as top holders offload liquidity. Key points include:
- Eight wallets sold 6.72 million MELANIA tokens, valued at $4.2 million, in the past 25 days.
- This selling represents over 1.2% of the circulating supply of 539 million MELANIA coins.
- The price of MELANIA has been declining due to significant selling pressure.
- The last project update was posted nearly two months ago on February 14.
- MELANIA is linked to LIBRA, another controversial meme coin that dropped 98% shortly after launch.
- MELANIA reached an all-time high market cap of $2.2 billion but is now trading at $0.51, down 96% from its peak.
These factors indicate a potential exit strategy by the team, raising concerns about the project's future viability.