Over $30 million in MELANIA meme coins were offloaded from community funds, according to blockchain analytics firm Bubblemaps. The firm flagged that 50 million tokens were moved to a wallet and later distributed to multiple addresses. The findings follow a $2 million sell-off last week and echo a single-sided liquidity tactic Davis used during February’s LIBRA crash. Bubblemaps said no one from the MELANIA team has addressed the token movements or sales. The mem coin's value has dropped over 90% from its peak.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Over $30 million in Melania meme coins were offloaded for community funds,
00:06according to blockchain analytics firm Bubble Maps.
00:09The firm flagged that 50 million tokens were moved to a wallet
00:12and later distributed to multiple addresses.
00:15The findings filed a $2 million sell-off last week
00:17and echo a single-sided liquidity tactic Davis used during February's Libra crash.
00:22Bubble Maps said no one from the Melania team has addressed the token movements or sales.
00:26The meme coin's value has dropped over 90% from its feet.
00:29For all things money, visit Benzinga.com slash GSTV.