Melania memecoin team sells $1.5M tokens as price pumps 21%

The team behind the Official Melania Meme (MELANIA) token sold more than $1. 5 million of tokens over the past three days, suggesting a programmatic selling strategy that may add downside pressure to the token. The team behind the Melania memecoin sold another $930,000 worth of tokens on April 28, two days after selling $630,000, according to blockchain data. The selling patterns point to dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, according to crypto intelligence platform Lookonchain source: https://cointelegraph.com/news/melania-memecoin-team-sells-1-5m-tokens-price-pumps-21?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound