@jon-nyc said in The Never-ending Grift:
A Melania NFT.
https://x.com/melaniatrump/status/1881094861279129643?s=46
https://decrypt.co/313866/melania-solana-meme-coin-dumps-bubblemaps
Big names and bigger dumps. Blockchain analytics firm Bubblemaps reported Monday that more than $30 million worth of Melania Meme (MELANIA), a meme coin linked to U.S. First Lady Melania Trump, have been moved and “quietly sold.”
On-chain analysis revealed the Solana-based tokens were taken from community funds, and neither the project team nor “launch strategist” Hayden Davis has yet offered any explanation for the movement of the assets.
In total, 50 million MELANIA tokens were funneled to wallet “Cq2Tj6,” then split across multiple addresses.
and
Davis, who previously admitted to launching both MELANIA and LIBRA, has been linked to a broader pattern of pump and dump style meme coins.
With team wallets controlling 92% of the MELANIA supply, retail investors are left exposed.
The MELANIA token, launched in January after Trump’s inauguration as President, briefly surged past $12 before crashing, mirroring the trajectory of the U.S. President’s own Official Trump (TRUMP) meme coin, which peaked above $72 before suffering a similar collapse.
MELANIA now trades at $0.5488, a massive 95.4% drop from its launch-day high. TRUMP, meanwhile, sits at $7.82, marking an 89.1% decline from its peak