The official memecoin project attributed to Melania Trump, known as MELANIA, has plummeted 96% in value over the last three months. This decline stands in stark contrast to the rising interest in the Official Trump (TRUMP) memecoin during the same period. While TRUMP coin maintains a fully diluted valuation (FDV) above $1 billion, MELANIA’s FDV continues to decrease, currently hovering around $515 million with a 24-hour average trading volume of just $22.77 million.
Whales Continue to Sell Off
Despite initial short-term interest during its launch, MELANIA coin has demonstrated a significant lack of community support for the long term. On-chain data reveals that early investors have offloaded a substantial portion of their holdings in recent months. This selling pressure has further suppressed already weak hopes for a price increase.
According to analyses provided by Lookonchain, not only individual investors but also wallets affiliated with the project are engaging in sales. In the past 25 days, the MELANIA team has sold a total of 6.72 million coins in exchange for 34,168 Solana 
$84 (SOL).
Additionally, eight different wallet addresses have engaged in liquidity adding and withdrawing transactions during this period. This has severely undermined investor confidence in the altcoin.
Technical Data Signals a Temporary Recovery
The cryptocurrency market has begun to show some positive signals following the Trump administration’s suspension of mutual tariffs with countries other than China. Trump’s post on TruthSocial stating that “better days are coming” has also fostered an optimistic atmosphere among both stock and cryptocurrency investors.
In light of these developments, MELANIA coin has started to show signs of recovery in short-term technical analyses. The hourly chart indicates an inverse head and shoulders pattern, and the positive divergence in the Relative Strength Index (RSI) suggests a potential reversal.
For the short-term bullish scenario in the altcoin to be confirmed, the MELANIA price must permanently exceed the logarithmic resistance representing the downtrend. Otherwise, the bullish signals may simply remain an illusion.
