'Into The Future': First Lady Melania Trump Shills Her Struggling Memecoin

Core Insights - First Lady Melania Trump has publicly endorsed her official memecoin, leading to a notable price surge in the token [1][3] - The memecoin has experienced a significant decline in value, dropping over 99% from its peak price of more than $13 [4] - Allegations of team members dumping tokens and a lack of utility have contributed to the token's poor performance [4] Token Performance - Following Melania Trump's recent post, the token's price surged by 17%, rising from approximately $0.17 to nearly $0.20 before settling around $0.18 [3] - The token has been in a downtrend for several months, with a significant drop in hype and interest [4] Team Activity - The project team has been accused of selling $30 million worth of MELANIA tokens from the community fund, which is typically used for ecosystem development [5] - Prior to this, the team reportedly extracted $2 million from the project's liquidity pool, with involvement from cryptocurrency influencer Hayden Davis [6][7] Market Context - The memecoin market has been volatile, with the recent endorsement by Melania Trump being one of the few public engagements since the project's launch [2][3] - The lack of utility and ongoing selling pressure from the team have raised concerns about the project's sustainability [4][5]