Bubblemaps has announced that the team behind meme Kevin Melania, owned by Melania Trump, the wife of the US president, has transferred 50 million MELANIA tokens worth approximately 30 million from the project's community budget and started selling them without any explanation.

According to reports, the tokens were first sent to a wallet and then distributed among several addresses. Of this, about 3 million has been transferred to exchanges, two new positions worth 6 million each have been opened and 500,000 of them have been sold.

According to the available data, 92% of Melania's token supply is in the possession of the project team's wallets, and there is still a possibility of further damage.

However, none of the team members of Melania or Haydn Davis, who are said to have been involved in the token's construction, have explained the moves or the sales.

The Melania token was unveiled on January 19, the day after the launch of Donald Trump's mimquin. Since then, the token has lost more than 96 per cent of its value and its price has gone from more than 13 to 0.51. Also, in the last 24 hours the token has dropped another 7.5 percent.

The Babylonians had previously announced that Haydn Davis had secretly sold both Melania and LIBRA, which was attributed to Javier Milli, the president of Argentina.

Meanwhile, interest in mimquins is declining. According to Dune Analytics, the weekly supply of tokens on the pump platform.Fan (Pump.fun) reduced from 5,400 to 1,500.

Also, according to solscan,only 31,651 tokens were created on the Solana blockchain on April 5, with less than a third of 95,578 tokens at the peak of the market.