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Melania Trump’s meme coin relaunch sparks scrutiny over transparency
Melania Trump has reintroduced her meme coin, MELANIA, after months of silence, accompanied by an AI-generated promotional video that briefly boosted the token’s price. However, the relaunch has reignited concerns about past transactions and questions regarding transparency.
Built on the Solana blockchain, MELANIA is currently trading between $0.17 and $0.18, with a market capitalization in the low hundreds of millions. This marks a significant decline from its peak value of $13.73, representing a 98% drop. Despite the relaunch triggering a modest 7% price increase, experts believe the surge was driven by hype rather than a sustained recovery.
Allegations of undisclosed sales
Critics have flagged troubling activities involving the token’s management. Blockchain analysis platforms, including Bubblemaps, have revealed that approximately $30 million worth of tokens were discreetly sold from “community” wallets without public disclosure. These actions have raised suspicions of insider cashouts ahead of the coin's value collapse.
The coin’s concentration of ownership also raises concerns, with a significant portion held in a few wallets linked to the project. This centralization grants outsized influence to specific entities, potentially enabling price manipulation.
Political and regulatory implications
The relaunch has drawn attention beyond the crypto community, as members of Congress, particularly Democratic lawmakers, have urged regulators to investigate potential conflicts of interest. They highlight the fact that both Melania Trump and her husband, former President Donald Trump, launched meme coins during their time in public office.
Meme coins like MELANIA are often criticized for their speculative nature. These tokens typically rely on celebrity endorsements and hype rather than intrinsic value or utility, making them vulnerable to sudden crashes or accusations of “pump and dump” schemes.
As scrutiny intensifies, the future of MELANIA will depend on whether the project can demonstrate greater transparency and accountability. Observers remain skeptical but are closely monitoring whether this relaunch signifies a genuine effort to rebuild trust or merely serves as another publicity-driven stunt.