This Altcoin’s Developers Are Regularly Selling Large Amounts – Onhain Data Shows

According to data provided by cryptocurrency onchain data provider LookOnChain, developers in one altcoin regularly hold token sales. The data revealed that in the Official Melania Meme (MELANIA) token, developers not only used the liquidity addition and removal method to sell, but also regularly conducted direct token sales using the dollar cost averaging (DCA) method. According to analysts, two days ago, the developers of the token sold 1.18 million MELANIA worth $632 thousand using the DCA method, exchanging it for 4,230 SOL. Related News: Are Bitcoin Holders Expecting an Upturn or a Downturn in the Current Situation? Data Revealed Today, using the same method, 2.01 million MELANIA tokens worth $938 thousand were sold by developers. Launched by US President Donald Trump’s wife, US First Lady Melania Trump, the memecoin seems to have caused losses for most people so far. The token has fallen 96% since its all-time high of $13.73 on January 20. The token, which is not listed on Coinbase or Binance, once had a market value of over $2 billion, but at the time of writing this article, it was recorded at $245 million. *This is not investment advice. Continue Reading: This Altcoin’s Developers Are Regularly Selling Large Amounts – Onhain Data Shows