Who is Melania Trump’s fall guy? Meme Coin developer confronts termination for MELANIA crypto asset initiative.

Within the realm of crypto casinos, investing in certain coins can either lead to peril or be greatly profitable. Meme coins have a reputation for skyrocketing unexpectedly, transforming some insiders into millionaires. For many, though, it becomes a chopping board for those who join the fray too late.

The graveyard is where over 99% of meme crypto token traders, looking to find fortune, often find themselves. Those who succumbed to FOMO and purchased TRUMP and MELANIA crypto meme coins at their peak are now lamenting their choices. And rightfully so. When TRUMP crypto launched on secondary markets like Binance, it soared to as high as $75. Conversely, Melania crypto surged above $13.

(Source: MELANIA USDT, Gecko Terminal)

Fast forward nine months, and just as Trump and Xi Jinping are clashing, the TRUMP and MELANIA meme coins have diminished significantly. They have become obsolete, and not only are they falling in the meme crypto token trading market cap rankings, but troubling announcement is emerging for their creators.

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Melania Crypto Creators Charged with Fraud

Recent reports indicate that the creators behind the official Melania Trump meme crypto token are facing serious accusations, with victims—mainly those who invested their life savings into the MELANIA meme coin—demanding restitution.

Court documents filed in New York on Tuesday accused Meteora executives, the DEX operating on Solana, of launching a crypto token they were fully aware would crash.

The plaintiffs assert that Meteora’s leadership, where MELANIA crypto first launched, intentionally orchestrated a plan allowing their associates to acquire a substantial quantity of MELANIA tokens at launch. Later, these tokens were sold for large profits.

For those traders left with worthless tokens, not only did they cling to hope for a price resurgence, but nine months later, it’s clear that a recovery for the meme coin is improbable.

As of October 22, MELANIA is lagging behind some of the top crypto presales, having plummeted -99.3% from its all-time highs. The meme coin hit ledger lows on October 10, crashing to $0.09202.

Interestingly, Melania Trump is not facing scrutiny. Instead, the victims allege that Meteora executives “utilized her” to “window dress” their unethical actions.

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Who Is Responsible? The Melania Meme Coin Was Deceptive From the Start

Should this lawsuit prevail, it could pave the way for further legal actions, potentially targeting the Trump meme crypto token as well.

Nevertheless, the method for compensating these victims remains uncertain.

However, their losses might have been mitigated had they conducted thorough research prior to blindly investing.

The launch of the Melania meme crypto token presented numerous warning signs that would have deterred astute traders from jumping in immediately.

Firstly, the website connected to the Melania Trump meme token was prematurely launched a day earlier, poorly constructed, and lacking Cloudflare security. Coupled with inadequately programmed front-end features, it indicated that the developers regarded this meme coin merely as a quick scheme, not as a genuine endeavor.

Furthermore, mere seconds after MELANIA debuted, a number of wallets swooped in, purchasing over $2.5M of MELANIA tokens, allowing insiders to manipulate the total supply right from the start. A significant portion of the overall token supply was retained by insiders, contradicting public claims of fair distribution of MELANIA tokens.

https://twitter.com/bubblemaps/status/1881094639765381586

Shortly after the meme crypto token commenced trading, an address with over 100M MELANIA tokens disposed of 89M, netting over $96M in profit.

There are also inquiries about the rapid ascent and descent of MELANIA prices. Onchain analysts suggest that the dramatic surge was engineered, and the following sell-off was meticulously planned to keep the public satisfied while insiders made their exit.

Remarkably, the address that initially funded the creator’s crypto wallet engaged in frequent trading on Pump.fun.

https://twitter.com/jconorgrogan/status/1881095240330989934

At present, the Melania meme crypto token continues to decline with no bottom in sight.

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The post Who’s Melania Trump’s Scapegoat? Meme Coin Dev Faces Chopping Block for MELANIA Crypto Project appeared first on 99Bitcoins.