In the cryptocurrency world, whale activities are significant indicators of market trends. The Melania meme coin is currently a focal point for these investors.
Acquisition of 6.69 Million MELANIA
Lookonchain reported today that a major crypto investor created a new wallet and withdrew $10 million USDC from Binance. The funds were then used to purchase 6.69 million MELANIA coins at an average price of $1.5 each. This move could be a strategic investment amidst recent price declines.
Melania Price Updates
MELANIA's price saw a notable increase of 15.6% in the last 24 hours, with the token currently trading at $1.72. This rise has piqued investor interest, as the meme coin, launched by the U.S. First Lady, remains closely tied to cryptocurrency and speculative investment trends.
Meme Coin Market Analysis
After its launch, Melania coin quickly soared, reaching a new ATH in its first week. The media attention and its association with Trump's family have bolstered its popularity. However, rapid sell-offs followed, with the price dropping by 61.1% over the past two weeks.
The significant investment in Melania meme coin by a major investor highlights the interest of large players in this asset, pointing to potential growth and support for bullish market sentiment.
