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 dollar-cost averaging (DCA), an investment strategy used to buy or sell a predetermined amount of an asset at fixed times, according to crypto intelligence platform Lookonchain. It flagged the activity in an April 28 post on X, writing:

“The #Melania team didn’t just add or remove liquidity to sell $MELANIA, they also employed a DCA strategy for direct sales!”Source: Lookonchain

Related: Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99%

The DCA strategy involves investing a certain amount of funds in an asset at regular intervals, often employed by investors to manage emotional decision-making.

MELANIA/USD, all-time chart. Source: CoinMarketCap

Despite the team’s selling, MELANIA staged an over 21% recovery during the past seven days, but remains around 96% below its all-time high of $13.7 recorded on Jan. 20 — the date of US President Donald Trump’s inauguration — according to CoinMarketCap data.

Meanwhile, some large investors are betting on the Official Trump (TRUMP) memecoin’s price decline.

Source: Lookonchain

A newly created whale wallet deposited $1.33 million worth of USDC (USDC) stablecoins to open a short position with 2x leverage at $14.7. The short would be liquidated if the Trump token’s price rises above $21.50, according to Lookonchain.

Related: Bitcoin still on track for $1.8M in 2035, says analyst

Memecoins were the second-biggest crypto sector in Q1

Memecoins were the second-most-dominant cryptocurrency investment narrative in the first quarter of 2025, reflecting that the market is still recycling old narratives.

AI tokens, memecoins, were leading crypto narratives in Q1 2025: CoinGecko

Memecoins captured around 27% of the global investor mindshare, while artificial intelligence tokens held over 35%, according to a quarterly research report by CoinGecko.

“Seems like we have yet to see another new narrative emerge and we are still following past quarters’ trends,” said Bobby Ong, the co-founder and chief operating officer of CoinGecko, in an April 17 X post.

Pump.fun usage metrics. Source: Binance research report

However, the launch of the TRUMP token and its disappointing performance may have marked the end of the memecoin supercycle, which saw the weekly usage activity on memecoin launchpad Pump.fun stage a significant decline — from 2.85 million active wallets on the week of Jan. 20, to just 1.44 million as of March 31.

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