The team behind Melania Trump's memecoin, Melania Meme (MELANIA), has recently transferred $30 million in tokens from its community funds and begun selling them, as reported by blockchain analytics firm Bubblemaps. On April 7, Bubblemaps revealed that 50 million MELANIA tokens, valued at approximately $30 million, were moved from community funds to a single wallet before being distributed across multiple addresses. Subsequently, $3 million worth of these tokens were sent to exchanges, two new positions of $6 million each were established, and $500,000 worth of MELANIA tokens were sold. Notably, no members of the MELANIA team have commented on these transactions or the selling activity. Furthermore, it was highlighted that 92% of MELANIA's total supply is controlled by "team wallets," raising concerns about potential future issues. Since its launch on January 19, shortly after Donald Trump introduced his own memecoin, MELANIA has seen a drastic decline in value, plummeting over 96% from a peak of over $13 to a current trading value of $0.51. Bubblemaps also noted that Hayden Davis, who claimed to have assisted in creating MELANIA, has been covertly selling tokens through single-sided liquidity. This comes amid a broader decline in interest in memecoins, with a noticeable drop in new token launches.