You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

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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Recently, numerous memecoins have been launched on the Solana network. These coins have gained massive attention, especially from investors looking for quick profits. However, along with this rising demand, some negative effects have started to emerge on the network.

Rug Pull Risk: The Dangerous Side of Memecoins

The rapid rise of memecoins has led to the occurrence of rug pull scams, where malicious actors withdraw all liquidity and abandon the project. This causes significant losses for investors. The Solana network has frequently seen rug pull incidents due to the fast growth and sudden collapse of memecoin projects. This can damage investor trust and have a negative impact on the network’s reputation.

Trump Coin and Investor Reactions

Another major development is the launch of Trump Coin by former US President Donald Trump. The introduction of Trump to the memecoin space has caused great excitement among investors, but it has also raised concerns in some circles. The fact that Trump Coin is hosted on the Solana network has increased interest in memecoins, but it has also created security concerns. Projects like Trump Coin can be appealing to some users, but others view these projects as speculative and risky. Memecoins are highly volatile, so investors can face sudden price fluctuations.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The future of Solana in the face of the memecoin explosion is being shaped by several risks. The network’s capacity could be strained due to the huge demand for memecoins, potentially affecting its stability. Investors need to be aware of the potential rug pull scams that come with these coins. It’s expected that Solana will need to strengthen security measures and ensure that only reliable projects are chosen to launch on the network.

The World of Memecoins and What Investors Need to Pay Attention to

Interest in memecoins brings along high risks. The future of Solana, in terms of these projects, is likely to be shaped by rug pull risks and security concerns. Investors need to be cautious and only invest in trustworthy projects. Moreover, the rising interest in speculative projects like Trump Coin is prompting investors to be more careful.

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Dogecoin Leads the Losses

Dogecoin, the largest memecoin by market capitalization, led the losses with a 5.6% drop in the past 24 hours, while SHIB recorded a 10.4% decrease. The Ethereum-based Pepe (PEPE) was the only top-cap memecoin to show gains, rising by 1.7%.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In addition to price drops, the open interest (OI) in memecoins also saw a decline. For instance, Pnut (PNUT) led the retreat with a 30% drop in OI, followed by DOGE, which saw a 20% decrease in OI to $3.1 billion. Memecoin OI fell overall, indicating bearish sentiment as traders closed leveraged positions in anticipation of further price drops.

The broader crypto market experienced a massive drawdown, with over $1.7 billion in liquidations in just 24 hours. Memecoin positions saw significant liquidations, with DOGE longs contributing over $72.6 million to the total liquidations. Similarly, SHIB, PEPE, and WIF saw substantial long liquidations as well, with PEPE liquidations reaching $7.9 million and WIF at $3.6 million.

Biggest Liquidation Event Since 2021

This event marks the largest liquidation event since 2021, resembling the start of the 2022 bear market. A similar event occurred earlier in December when a flash crash wiped out over $816 million in long positions, including memecoin losses.

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