MELANIA token holders got slammed as insiders dumped a massive $14.75 million worth of tokens, sending prices nosediving by 95% from yearly highs. The meme token, trading between $0.38 and $0.56, saw panic selling across major exchanges as investor confidence crumbled. Despite the freefall, Kraken reported 465,071 MELANIA tokens purchased today – proving some traders still haven’t learned their lesson. The full story behind this crypto catastrophe runs deeper than meets the eye.
Devastation struck the Solana meme coin market as MELANIA (MELANIA) plummeted to an unprecedented low, now trading between $0.38 and $0.56. The token’s spectacular nosedive has wiped out nearly 95% of its value from its yearly high of roughly $7.43 to $10.76. Talk about a rough landing.
The catalyst? A massive insider sell-off worth approximately $14.75 million sent shockwaves through the market. The dump flooded exchanges with MELANIA tokens, and predictably, the price went into freefall. Investors watched in horror as their holdings melted faster than an ice cream cone in July. With a total supply of 999.99M tokens, the selling pressure has been particularly intense.
When insiders dump $14.75M worth of tokens, you better believe your investment will melt faster than summer ice cream.
Despite the bloodbath, trading volumes remain surprisingly robust, hovering between $12.4 million and $13.4 million over 24 hours. Daily transactions show hundreds of thousands of MELANIA tokens changing hands – somewhere between 324,000 and 465,000 units. The Kraken exchange alone saw 465,071 MELANIA tokens purchased today. Clearly, someone’s still buying this dip. Good luck with that.
The token’s performance has been consistently awful across all timeframes. We’re looking at a 6% drop in 24 hours, a brutal 23% weekly decline, and a soul-crushing monthly plunge exceeding 47%. The downward spiral shows no signs of slowing down. The recent market liquidation of $2.2 billion in a single day across cryptocurrencies has only amplified investor concerns.
As a member of the Solana ecosystem and proudly wearing its meme token badge, MELANIA’s wild price swings aren’t exactly shocking. That’s just how these speculative coins roll. Major exchanges like Kraken and Crypto.com continue listing the token, providing easy access for traders who apparently haven’t had enough punishment yet.
The price charts tell a story of relentless selling pressure and evaporating confidence. Each new low brings another wave of panic, feeding the downward spiral. While slightly higher prices are reported in Canada, it’s cold comfort for investors watching their portfolios shrink.
Just another day in the volatile world of meme tokens, where fortunes can vanish faster than you can say “HODL.”
