According to the blockchain analytics platform, wallets tied to the MELANIA team offloaded 82.18 million tokens, equivalent to around 8.2% of the token’s total 1 billion supply, between March and June.
These tokens were converted into 244,934 SOL, worth roughly $35.76 million at the time of sale.
Lookonchain pointed out that the transactions were carried out across 44 separate wallets and were primarily through liquidity changes on decentralized exchanges.
Notably, concerns about insider trading first emerged in March when wallets associated with the MELANIA project reportedly moved 31.685 million tokens from community and liquidity pools within a month.
