Suspected Insiders Distribute $2.5M MELANIA

‍

Insiders linked to First Lady Melania Trump’s memecoin, MELANIA, have been distributing MELANIA tokens. A relatively fresh wallet address, Cq2Tj, received 50M MELANIA tokens one month ago, worth over $63M then. Yesterday, this wallet began sending out 2.5M MELANIA tokens to Chptd, which subsequently redistributed 1M tokens to both Ha1Ye and SUWQc.

In the Solana ecosystem, decentralized exchanges like Meteora play a pivotal role in facilitating these types of high-volume exits. By depositing tokens into a liquidity pool rather than selling them directly on the open market, holders can sometimes mitigate the immediate price impact of their trades, although the end result often remains a reduction in the token's overall value. For analysts, the movement of funds from a private wallet into a liquidity pool is a critical indicator; it represents the transition of "paper wealth" into liquid assets like SOL, often marking the first time these insider tokens interact with the broader market demand.

Ha1Ye sold the tokens via a Meteora MELANIA/SOL liquidity pool, before sending the proceeds of 5,433 SOL (~$693,957) to another fresh address, HBNsR. The other recipient, SUWQc, also deposited its 1M MELANIA tokens into a liquidity pool on Meteora, but the proceeds have not been withdrawn from the pool yet.

‍

‍

Understanding the tokenomics structure is essential for interpreting these movements, particularly the mechanisms designed to control supply release. A "cliff" serves as a mandatory lock-up period—in this case, 30 days—during which specific token holders are technically barred from accessing or selling their assets. These structures are implemented to prevent a sudden flood of supply immediately after a project launches, theoretically offering stability. However, as the cliff date approaches, market participants often brace for increased volatility, anticipating that vested parties may move quickly to liquidate their positions once the restriction lifts.

Previous distributions for Cq2Tj were also sold on Meteora or sent to Kraken, presumably to be sold as well. The MELANIA token has a cliff of 30 days from its launch, with its first unlock occurring on 19 February. Subsequently, 2.25% of the supply would be linearly vested on a monthly basis.

‍

‍