MELANIA Token Crashes 97% Amid Insider Sell-Off: Binance Community Reacts

The MELANIA token, once a high-profile cryptocurrency, has plummeted to an all-time low, losing 97% of its value since its peak on Trump’s inauguration day. Recent on-chain data reveals that insiders dumped millions of tokens, sparking concerns about the project’s integrity. Here’s a detailed breakdown of the situation.

MELANIA Plunges to All-Time Low After Insider Sell-Off

MELANIA token’s value has dropped to an all-time low, a staggering 97% down from its all-time high on Trump’s inauguration day. On April 19, on-chain analyst EmberCN reported that wallets tied to the project offloaded nearly 3 million MELANIA tokens in return for approximately 9,009 SOL, valued at around $1.2 million. This transaction is part of a broader pattern where the MELANIA team reportedly moved 7.64 million tokens, worth about $3.21 million, from both liquidity and community wallets in the past three days. The tokens were sold through unilateral liquidity provisions added to the MELANIA/SOL trading pair on Meteora.

BNB Flashes Signs of Potential Bullish Breakout

BNB’s inverse head and shoulders pattern signals a potential bullish breakout. The altcoin’s burn and liquidity boost strengthen long-term fundamentals. According to market Prophit, both crowd sentiment (3.48) and smart money sentiment (0.26) are positive. At press time, BNB traded at $589.98, down by just 0.06% in the past 24 hours, hovering below a key resistance level. A clean reversal pattern with $600 as the trigger point has been observed on BNB’s 4-hour price chart.