TL;DR

The team behind the second meme coin linked to the First Family has also been disposing of a large portion of the token in the past several months. According to on-chain data shared by Lookonchain, they have already sold more than 8% of the total MELANIA supply. The #Melania meme team sold 82.18M $MELANIA(8.22% of total supply) over the past 4 months across 44 wallets, cashing out 244,934 $SOL($35.76M).

Most of the $MELANIA tokens were sold through adding and removing liquidity.https://t.co/EJYWtbB5aE pic.twitter.com/gtmRdkNq1y

The post indicates that the team has cashed out over $35 million in MELANIA over the past four months from 44 wallets related to them.

Within this timeframe, the meme coin related to the FLOTUS experienced a massive price dump. It peaked at $8.5 hours after its launch but quickly started to lose value.

In the past 24 hours, the asset has plunged to $0.2, which represents a 98.4% price dump within just several months.

Thus, the MELANIA team has followed the example set by those operating the TRUMP token. CryptoPotato reported numerous times in the past that wallets linked to the POTUS meme coin had disposed of enormous portions of the token.

The most recent example was quite controversial as it came just hours before the US launched a missile attack against Iran, after which the entire crypto market turned red, including the TRUMP meme coin.