Melania's memecoin is absolutely cratering right now.

The token has dumped a staggering 93% from its all-time high, wiping out $12 billion in market cap in a slow burn that’s leaving everyone with scars. 

Even crypto whales are panic selling at enormous losses, signaling that confidence has completely evaporated.

The Whale Exodus

On-chain detective Lookonchain spotted some absolutely brutal whale capitulations.

One unfortunate soul just dumped nearly 14 million MELANIA tokens for an eye-watering $15.68 million loss.

Another whale sold 6.69 million tokens over two days, taking a $3.73 million hit to escape what looks increasingly like a sinking ship.

When whales start taking losses this size, you know something serious is happening behind the scenes.

Ugly Numbers, Big Losses

MELANIA is now trading under a dollar, down from its launch peak of $13.73 just a month ago.

That's a 93% freefall that would make even LUNA blush… well, maybe not LUNA, but you get the idea. 

The token has shed nearly $13 billion in market value – about the GDP of a small country – in just a few weeks.

And it's not just MELANIA feeling the pain – the entire Trump-verse of tokens is imploding.

The TRUMP token itself has crashed 82% from its highs, despite his successful return to the White House.

The broader memecoin sector has hemorrhaged a stunning $46 billion since Trump's inauguration – so much for that promised crypto boom.

Trading volume across memecoins has plummeted 20% in the last month as retail investors apparently decide they've had enough pain.

The Launch Backstory

MELANIA was launched with major fanfare on Solana just before Trump's inauguration last month.

The initial hype pushed crypto back into mainstream headlines, with both TRUMP and MELANIA tokens briefly capturing the public imagination.

But the euphoria was short-lived, and on-chain sleuths are now drawing concerning connections between MELANIA's creators and the infamous LIBRA token that got Argentina's president in hot water.

Some eternally optimistic analysts still believe MELANIA could climb back to $5 if market sentiment changes.

But this token only has the utility of… the Trump name.

That means a big uphill battle has to be fought to keep any relevance, and these massive whale dumps suggest that even the smartest money in the room is cutting their losses and moving on.

A Hard Reality

Celebrity tokens are proving once again that hype without substance eventually leads to painful corrections.

The initial excitement around political memecoins is giving way to the harsh reality of market fundamentals.

Even presidential endorsement can't save a token when whales start heading for the exits – maybe the First Lady should stick to press appearances.