So far, the team unloaded over $1.5 million worth of tokens in three days. Other political-themed meme coins like TRUMP are also facing bearish sentiment, with whales opening sizable short positions. Meanwhile, Trump-backed World Liberty Financial signed a major partnership with Pakistan’s Crypto Council to promote blockchain adoption. Back in the US, President Trump proposed eliminating federal income taxes by funding the government through tariffs.
Melania Team Deploys DCA Strategy
The team behind the Official Melania Meme (MELANIA) token sold more than $1.5 million worth of tokens over the past three days. This points to a programmatic selling strategy that could add even more downside pressure to the token's price.
On April 28 alone, the team sold $930,000 worth of MELANIA tokens, which followed a $630,000 sale two days earlier. According to blockchain intelligence firm Lookonchain, the pattern of these sales suggests a dollar-cost averaging (DCA) strategy, where assets are sold at regular intervals to manage market impact and reduce emotional trading decisions. Lookonchain noticed that the Melania team did not simply add or remove liquidity but employed DCA for direct sales as well.
Despite the team's heavy selling, MELANIA's price managed to recover more than 21% over the past seven days. However, it still trades about 96% below its all-time high of $13.7, which was recorded on Jan. 20. This was the date of President Donald Trump’s inauguration.
MELANIA’s all-time price action (Source: CoinMarketCap)
Meanwhile, sentiment around other political-themed meme coins seems very bearish. A newly created whale wallet recently deposited $1.33 million worth of USDC to open a short position on the Official Trump (TRUMP) token at a price of $14.70, using 2x leverage. This short position will be liquidated if TRUMP’s price rises above $21.50. This indicated that the whale is quite confident that the token's price will fall.
The broader meme coin market is still significant in the cryptocurrency sector. During the first quarter of 2025, meme coins represented around 27% of global investor mindshare, making them the second most popular investment theme after artificial intelligence tokens. AI tokens captured over 35%, according to a report by CoinGecko.
However, some signs suggest that the meme coin narrative may be losing some steam. The launch of the TRUMP token and its disappointing performance coincided with a major decline in weekly usage activity on meme coin launchpad Pump.fun, which dropped from 2.85 million active wallets during the week of Jan. 20 to just 1.44 million by the end of March.
According to CoinGecko’s co-founder Bobby Ong, the market seems to be continuing past trends without any major new narratives emerging just yet.
World Liberty Financial Expands into Pakistan’s Crypto Market
Another Trump project also recently took some big steps. Donald Trump-backed World Liberty Financial signed a Letter of Intent with the Pakistan Crypto Council to boost crypto adoption in one of the world’s fastest-growing digital asset markets.
According to an April 27 report from Business Recorder, the partnership will focus on launching regulatory sandboxes to test blockchain products, expanding stablecoin use cases for remittances and trade, exploring real-world asset tokenization, and supporting the growth of decentralized finance initiatives. World Liberty founders Zach Witkoff, Zak Folkman, and Chase Herro signed the agreement in a recent meeting with the Council’s CEO Bilal bin Saqib, which was also attended by key Pakistani officials including the governor of the central bank, the finance minister, and the IT secretary.
World Liberty Financial was launched last year with backing from Donald Trump and his family, and shares its profits with the former president's family. The Pakistan Crypto Council is a government-backed organization overseeing regulatory initiatives to boost crypto innovation and attract foreign investment. Pakistan’s efforts come as the country ranks ninth globally in crypto adoption, with an estimated 25 million active users and $300 billion in annual transaction volume, according to Chainalysis data.
(Source: Chainalysis)
Finance Minister Muhammad Aurangzeb explained that Pakistan’s young and tech-savvy population, with around 60% under the age of 30, represents a key advantage in driving innovation and global leadership in the blockchain economy. Pakistan’s push toward a more open crypto environment is reinforced by its recent engagement with key industry figures, including former Binance CEO Changpeng Zhao, who was appointed as an adviser to the Pakistan Crypto Council to assist with regulatory development and innovation strategies.
In addition to private sector partnerships, Pakistan’s Federal Investigation Agency also recently proposed a new crypto regulatory framework that will be aimed at balancing innovation with national security concerns, particularly around terrorism financing, money laundering, and Know Your Customer standards. The proposed framework is expected to roll out in multiple phases starting in 2026.
This crypto-friendly pivot is in stark contrast to the country’s position in May of 2023, when former finance minister Aisha Ghaus Pasha said that Pakistan would never legalize cryptocurrencies because of regulatory and security concerns.
Trump Pushes for Tariff Funded Government Model
Meanwhile, United States President Donald Trump recently announced that federal income taxes will be "substantially reduced" or potentially eliminated once the administration’s new tariff regime is fully implemented. In an April 27 post on Truth Social, Trump stated that the primary beneficiaries of the proposed tax cuts will be individuals earning less than $200,000 per year.
(Source: Truth Social)
He also mentioned that the "External Revenue Service" concept, which would fund the federal government exclusively through tariffs rather than through the Internal Revenue Service, is beginning to take shape.
The elimination of the federal income tax could serve as a positive catalyst for asset prices, including cryptocurrencies, as an increase in disposable income could encourage higher levels of investment. However, analysts still warned that this stimulative effect is not guaranteed and will depend heavily on broader economic conditions.
Trump floated the idea of eliminating the income tax before, during an appearance on the Joe Rogan Experience in October of 2024, but offered very few specifics at the time. The proposal was inspired by the late 19th-century Gilded Age when the US government relied largely on tariffs for funding, but it is still highly ambitious.
Research from accounting automation company Dancing Numbers estimated that Trump's plan could save the average American $134,809 in lifetime tax payments, with potential savings rising to $325,561 if other wage-based taxes were also eliminated. Trump’s broader tariff policy, however, has drawn a lot of skepticism.
On April 2, he signed an executive order introducing sweeping tariffs on all US trading partners, establishing a 10% baseline tariff with additional reciprocal rates against countries that tax US imports. Yet since the order was signed, the administration repeatedly revised its stance by altering tariff rates and delaying implementation dates.
This lack of consistency contributed to increased volatility in US financial markets. Financial analysts criticized the protectionist approach, and argued that it undermines capital markets while offering few tangible benefits.
