One wallet made $39 million in under a day after investing in $MELANIA before launch.
A Financial Times investigation has revealed that select wallets bought millions of dollars’ worth of the MELANIA memecoin just minutes before its public launch. These early trades generated nearly $100 million in profits, raising concerns over transparency and potential insider activity.
The MELANIA token, launched on 19 January 2025, was promoted by Melania Trump only two days after the Official Trump token debuted.
Both Solana-based memecoins have faced heavy criticism for lacking utility and appearing more like speculative assets. One wallet alone made over $39 million within 12 hours of launch, having invested just before the token was publicly announced.
Despite the apparent unfair advantage, such actions remain legal under current US regulations, as memecoins are not classified as securities. Still, blockchain analysts have linked MELANIA’s team to other memecoin sniping and pump-and-dump schemes.
Meanwhile, the Official Trump token, run by a separate team, has generated over $1.1 billion in profits, primarily benefiting a small group of large holders.
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