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According to blockchain data, the Melania token team sold $630,000 worth of tokens on April 26 and another $930,000 on April 28. Lookonchain flagged the sales, suggesting a dollar-cost averaging (DCA) strategy, a method where a fixed amount is sold at regular intervals to minimize volatility impact.

MELANIA Token Recovers, but Risks Persist

While MELANIA token has risen over 21% this week, it is still trading far below its all-time high of $13.7, recorded on January 20 — the date of U.S. President Donald Trump’s inauguration, per CoinMarketCap data.

Meanwhile, some large investors are betting against political-themed memecoins. A newly created whale wallet opened a 2x leveraged short position worth $1.33 million USDC against the Official Trump (TRUMP) token, indicating bearish sentiment.

Is the Memecoin Craze Fading?

Memecoins accounted for 27% of the global cryptocurrency narrative in Q1 2025, second only to AI tokens, according to a CoinGecko report. However, the underwhelming performance of the TRUMP token and a significant drop in Pump.fun activity — from 2.85 million to 1.44 million active wallets — suggest the memecoin supercycle might be winding down.

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Hayden Davies Launches Wolf Memecoin: The Result? A Total Disaster!

Hayden Davies, known as the creator of Libra (LIBRA) and Official Melania Meme (MELANIA) tokens, has returned with a new Solana-based memecoin called Wolf (WOLF). On March 8, Davies launched Wolf, aiming to benefit from rumors that Jordan Belfort, known as the Wolf of Wall Street, was launching his own token.

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However, things didn’t go as planned. After its launch, Wolf reached a market cap of $42 million, but 82% of the token’s supply was controlled by a single entity. According to Bubblemaps, who shared data on March 15, this pointed to a pre-planned insider trading operation.

“The bubble map revealed WOLF had the same pattern as HOOD, another token launched by Hayden Davies. Was he behind this one too?” – Bubblemaps

Bubblemaps also reported that Davies transferred funds to 17 different addresses months before the token launches and routed them through two different blockchain networks.

Wolf Lost 99% of Its Value in Two Days!

According to Dexscreener data, Wolf’s market cap, which was $42.9 million as of March 8 at 04:00 UTC, dropped to just $570,000 within two days.

Davies’ move with Wolf came just weeks after the Libra token disaster. Back then, eight insider wallets withdrew $107 million in liquidity, causing a $4 billion market cap wipeout within hours.

Libra Scandal Turns Into a Political Crisis!

Argentine President Javier Milei was heavily criticized after endorsing the Libra token, which triggered impeachment threats. Argentine lawyer Gregorio Dalbon requested an Interpol Red Notice for Hayden Davies, claiming that if Davies remained free, he could escape the U.S. or go into hiding due to his access to large sums of money.

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TRUMP Token Slumps After Donald Trump’s Inauguration

The Official TRUMP (TRUMP) token slid by 50% after US President Donald Trump made no crypto-related “day one” executive orders. The token had peaked above $78 on January 19 but dropped to $37 after the inauguration, a 30% decline over the last 24 hours.

Melania Meme (MELANIA) token, launched by Melania Trump, has fallen around 70% from its peak and now trades below $5.

Broader Memecoin Market Declines

Dogecoin (DOGE) also saw a decline of around 11% in the last 24 hours. However, Dogecoin resisted the broader downtrend slightly better than others.

The TRUMP token’s market cap, which reached as high as $20 billion on January 18, now stands at $7.5 billion, a 65% drop. Similarly, MELANIA token’s market cap has fallen to $819 million from a high of $2.21 billion on January 20. This has led to a decline in the total market cap of the memecoin sector to $102 billion, its lowest level since January 15.

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The total daily trading volume across the memecoin sector nearly halved, indicating increased selling pressure. Both TRUMP and MELANIA tokens saw high trading volumes, with TRUMP at $25 billion and MELANIA at $2.4 billion, showing that profit-taking continued.

Open Interest (OI) Drops for Memecoins

The drop in TRUMP and MELANIA token prices was accompanied by a decrease in open interest (OI), with MELANIA leading the decline at 32%. DOGE’s OI also saw a drop of 12%, while TRUMP’s OI decreased by 23%. This signals a bearish momentum as more contracts are closed, anticipating the trend will continue.

Technical Analysis of TRUMP Token

Technical analysts suggest that TRUMP token’s price may drop toward the $25-$30 range before embarking on a potential new upward movement. Michael van de Poppe, founder of MN Capital, predicts a possible bottom around $36 with declining sell pressure. Kwantxbt, a technical analyst, added that a trend reversal may occur if volume confirmation above $38 is observed.

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