Causes of MELANIA Coin Price Rose More than 10% Today

Bittime - MELANIA Coin is attracting attention again after experiencing a price increase of more than 10% today. 

One of the reasons why the price of MELANIA Coin rose was the massive buying action by whales. Read this article to find out more!

Whale Buy MELANIA Coin

Source: Lookonchain

One of the reasons why the price of MELANIA Coin rose today is thought to be due to whale buying. Dminutes from Lookonchain shows a whale purchasing 6.69 million MELANIA tokens at $1.50 per token. 

This transaction was made through a new wallet created just hours before the purchase. The whale withdrew 10 million USDC from Binance before making this large purchase.

Read Also: Melania Trump Launches Memecoin MELANIA

Causes of MELANIA Coin Rise

Meanwhile, this whale's portfolio only contains MELANIA Coin worth $11.304 million, with a profit of $1.27 million from this latest purchase.

This large purchase is thought to be the cause of the price of MELANIA Coin rising by more than 10% in the last 24 hours. Even so, market indicators on TradingView still show neutral sentiment. 

MELANIA Coin Rises After Drastic Drop

Since it was first launched, MELANIA Coin has reached its all-time high price of $13.05. However, since then, its value has plummeted by more than 87%. Currently, the token price is around $1.70.

In the last 7 days, MELANIA price has fallen by 30.45%. The token also performed worse than the “Made in USA” crypto market, which only experienced an average decline of 11.6%.

Even so, some analysts are starting to see signs of recovery, especially with the price of MELANIA Coin rising by more than 10% today.

Read Also: Where To Buy Official Melania Meme Coin? Complete Guide for You!

MELANIA Coin FAQs

How much is 1 MELANIA in USD?

Currently, the price of 1 MELANIA is around $1.69.

How much does MELANIA Get for $1?

With $1, you can buy approximately 0.591504 MELANIA.

What is MELANIA/USD's ATH?

MELANIA/USD's ATH is $13.05, on January 20, 2025.

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Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

MSN, Whales are back on the MELANIA bandwagon, one purchases 6.69M $MELANIA, the coin is up 19%, accessed February 5, 2025.

Lookonchain, Akun X Resmi Lookonchain, accessed February 5, 2025.

CoinGecko, CoinGecko Coins Melania Meme, accessed February 5, 2025.

Author: IPR