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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…
