Hayden Davis, the controversial figure behind tokens like MELANIA and LIBRA, is once again at the center of a crypto storm. Blockchain analytics firm Bubblemaps has uncovered that Davis has been aggressively selling MELANIA tokens over the past two weeks. His wallets have offloaded about $1.06 million worth of tokens onto centralized exchanges while also withdrawing over $2.05 million from liquidity pools. This pattern closely mirrors what happened with LIBRA, another token linked to Davis.
But here’s where it gets even more interesting. The pattern is almost identical to what happened with LIBRA, another token linked to Davis that ended in disaster. Is history repeating itself?
Blockchain investigators at Bubblemaps, known for exposing questionable crypto activities, report that Davis and his team have already taken over $100 million from MELANIA and LIBRA using suspicious methods. Previously, in collaboration with Coffeezilla, Bubblemaps showed that these tokens were designed more for quick profits than long-term value.
For weeks, Davis’s MELANIA wallets remained inactive. Then, around 12 days ago, he suddenly began selling tokens using a one-sided liquidity setup – a strategy he had also used with LIBRA. Millions of tokens were sent to centralized exchanges like Kraken and MEXC, likely to be sold off.
Shortly after the latest sell-off, a new MELANIA liquidity pool appeared with $450,000. This setup, detected just minutes after its creation, seems designed to enable further sales at a controlled price. The move suggests that Davis is still pulling funds out of the token, adding more instability to the market.
By March 28, a steady stream of sell orders pushed MELANIA’s price down from $0.70 to $0.63 within days, with some exchanges showing even lower prices. At its peak, MELANIA once reached $13.73 but has since lost billions in value. While there is still some liquidity left, its 246,375 holders may struggle to sell before prices drop further.
The rise of Trump-themed meme coins created the conditions for this type of crypto activity. On January 18, 2025, Donald Trump launched his own token, TRUMP, which surged from just a few cents to an all-time high of $72.68. The hype led to billions in trading volume and opened the door for more political meme coins.
The next day, Melania Trump launched MELANIA, but it quickly gained a reputation as a pump-and-dump scheme. A small number of wallets controlled most of its supply, and a presale wallet dumped 10% almost immediately. The same pattern was repeated with LIBRA, but on a larger scale.
With Davis continuing to sell off MELANIA tokens, its price could drop even further. This situation highlights the risks of investing in political meme coins, which often face extreme price swings, liquidity issues, and possible regulatory crackdowns.
Crypto history keeps repeating itself – new token, same old playbook. And once again, investors are left holding the bag.
Hayden Davis is a controversial crypto figure linked to tokens like MELANIA and LIBRA, both of which faced liquidity issues and allegations of market manipulation.
Reports suggest MELANIA follows a “pump-and-dump” model, where early holders cash out large amounts, leaving later investors with depreciating assets.
LIBRA, another project linked to Davis, saw a massive liquidity drain, leading to price crashes and allegations of fraudulent practices by investigators.
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