The team behind the Official Melania Meme (MELANIA) token sold more than $1.5 million of tokens over the past three days, suggesting a programmatic selling strategy that may add downside pressure to the token.
The team behind the Melania memecoin sold another $930,000 worth of tokens on April 28, two days after selling $630,000, according to blockchain data.
The selling patterns point to data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/what-is-dollar-cost-averaging-dca-and-how-does-it-work” rel=”null” target=”null” text=”null” title=”null”>dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, data-ct-non-breakable=”null” href=”https://x.com/lookonchain/status/1916744667636355458″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/lookonchain/status/1916744667636355458″>according to crypto intelligence platform…
