The Melania meme coin price has plummeted to a record low of $2.57 following a massive sell-off by a crypto whale. This event has triggered concerns about the token’s future and credibility.
Crypto Whale Profits $42.7M From Melania Meme Coin
A recent post by Lookonchain revealed that a crypto whale sold a large portion of Melania meme coin holdings, causing the price to crash. The whale initially purchased 4.1 million MELANIA tokens for 2,500 SOL (approximately $688,000). Capitalizing on the market hype, the whale strategically sold the tokens, making a staggering $42.7 million profit.
Initially, the whale sold 203,000 MELANIA for 2.14 million USDC. Today, they sold the remaining 5 million tokens, pushing the price to an all-time low. The token’s value had previously peaked at $13.73 but has now dropped 80%, leading to significant losses for investors.
Melania Meme Coin Price: What’s Next?
The mass sell-off has resulted in a 32% price drop in a single day, with Melania meme coin price hitting $2.57. According to CoinMarketCap, trading volume has also declined by 50%, currently standing at $309.43 million. This indicates fading investor interest and growing skepticism.
Despite its initial popularity as the official cryptocurrency of FOTUS, both TRUMP and MELANIA coins have struggled with volatility and profit-driven trading. Many traders are now facing substantial losses due to the declining prices.
Can Melania Meme Coin Recover?
Meme coins are known for their high volatility, and the current downtrend reflects investor panic. However, some analysts believe that Melania coin could recover, driven by political associations and renewed hype around Trump-related cryptocurrencies.
Conclusion
The crypto market continues to monitor the performance of TRUMP and MELANIA meme coins closely. The recent whale sell-off, resulting in a $42.7 million profit, highlights the risks and opportunities within this volatile space. While some experts anticipate a potential rebound, the current market sentiment remains uncertain.
