MELANIA insider wallets are sending tokens again – More dump on the way?

According to a report from Arkham Intelligence, Melania insider wallets have become active again. In the transactions flagged by Arkham, the wallet in question sent $1.87M MELANIA to a fresh wallet from its 50M MELANIA (5% of supply from the MELANIA team). The transaction could mean the wallet is getting ready to dump even more tokens, as Arkham notes that previous distributions from the same address were deposited to Kraken and sold via Meteora.

Donald Trump won the election after campaigning as a pro-crypto president. Since then, he has launched a meme and ran an airdrop for his loyal supporters. His wife, First Lady Melania Trump also launched a meme of her own, with other political figures like Javier Milei of Argentina also linked to the $Libra token launch.

Unfortunately these launches have only worked to benefit the parties behind them, leading many to tag them pump and dump schemes.

MELANIA insider wallets on the move again

According to a report from Arkham, Melania insider wallets have become active once more, which means something is about to happen, and a dump is never out of the question.

According to Arkham’s post, the wallet in question received 50M MELANIA, which is 5% of the supply from the MELANIA team, and has just sent $1.87M MELANIA to a fresh wallet. This could mean they’re getting ready to dump even more tokens, as Arkham notes that previous distributions from the same address were deposited to Kraken and sold via Meteora.

“The vesting schedule for MELANIA is brief, with the first unlocks occurring 30 days after launch (19/02/2025), making today currently the end of Month 2. 2.25% of MELANIA supply is linearly vested every month,” Arkham also tweeted.

In the comment section, users had mixed opinions about the news, with many implying that they believe someone in Melania’s team is getting ready to dump on the meme’s holders again.

There is little doubt that things are finally looking up, adoption-wise, for BTC and crypto in general. However, these series of recent high-profile rug pulls have left newer participants concerned and forced many of the more experienced investors to accept the “crypto” frenzy triggered by Trump may be tarnishing the industry’s reputation as an alternative monetary system.

$TRUMP, $MELANIA & $LIBRA were holes in the Solana ship

The season of political figures launching memes started when the POTUS decided to create one himself. The launch triggered a frenzy on Solana as degens quickly reallocated assets into the meme.

The immediate aftermath saw $TRUMP’s market cap peak at over $15 billion. However, the value crashed by 40%, erasing $7.5 billion in market cap in minutes after the first lady blindsided the market with $MELANIA’s launch.

Traders sold $TRUMP to buy $MELANIA, and by late January, $TRUMP’s daily trading volume had collapsed 90% from its $36 billion peak to $3.5 billion, and its price fell to $26.80 from a high of $73.43.

A similar occurrence happened with the $MELANIA token, which was launched a few days after $TRUMP, less than 12 hours before Trump’s inauguration, sparking an instant speculative fever.

ARKHAM ALERT: MELANIA INSIDER WALLETS DISTRIBUTING $MELANIA

A wallet that received 50M MELANIA (5% of supply) from the MELANIA Team has just sent $1.87M MELANIA to a fresh wallet.

Previous distributions from this address were deposited to Kraken and sold on Meteora. pic.twitter.com/x2dwIgdcPW

— Arkham (@arkham) March 19, 2025

Many had witnessed the earliest $TRUMP buyers cash out with enormous returns and thought they were getting their own chance, so they rushed to buy. Truly, hours after the release, the token’s price surged by 24,000%, peaking at about $13 and pushing the market cap to nearly $1.8 billion.

Unfortunately, the gravy train quickly rolled to a stop. That same weekend, $MELANIA fell by 80% from its peak, sinking to $0.76 by mid-February​. This triggered questions about the token distribution and intent, with analysts noting an ownership concentration​ similar to the one observed with the Trump token.

Following the success of both tokens, Argentina’s President Javier Milei, a self-proclaimed libertarian and Bitcoin supporter, endorsed the $LIBRA token and promoted it on his social media accounts as a private initiative to boost Argentina’s economy.

This caused $LIBRA’s price to instantly shoot up from $0 to nearly $5 apiece as Milei’s followers and retail investors bought. It turned into a national scandal overnight when the token’s price fell by over 80% within hours as insider wallets dumped over $107 million in tokens almost immediately after launch, cashing out profits while regular holders watched helplessly.

The political fallout from the scandal was swift and saw the opposition launch an impeachment request against Milei, who quickly deleted his promotional post and disavowed any ties to $LIBRA, claiming, “I was not aware of the details of the project and once I found out, I decided to not continue giving it publicity.”​

There was also $CAR, launched by the Central African Republic’s president on February 9, and it also mirrored $TRUMP’s pump and dump. According to DEXScreener, its $800M cap lasted only minutes before falling 84% amidst scam allegations.

All four events made headlines and have blurred the lines between the OG cryptos like Bitcoin (digital gold) and speculative pump-and-dump tokens.

According to estimates, these tokens also extracted significant liquidity from Solana’s ecosystem. One analyst estimated that $TRUMP and $CAR, alongside $LIBRA, drained between $3.6 billion and $6.6 billion from Solana’s memecoin market.

According to Nansen, the $LIBRA token sucked at least $250 million from the ecosystem alone.

All the while, new memes are being launched and rugged, further tarnishing Solana’s reputation.

It does not take a rocket scientist to figure that the value that these projects extracted from the Solana ecosystem contributed to grounding it. Since they launched, active addresses and transactions have reportedly declined on Solana and the SOL token value has fallen by about 40% as distrust continues to spread.

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