Hayden Davis, linked to market manipulation of Libra and other celebrities’ meme tokens, still sells melania. Data on the chain shows that early investors still emit tokens using both centralized exchange and DEX liquidity pools.
Hayden Davis continues to sell Melania (Melania) Tokens, as revealed by Bubblemaps data. Previously linked to the manipulation of meme tokens, Davis has not faced sanctions and continues to use the meme token market to cut his position.
As of March 28, Melania was under pressure on overwhelming sell orders, with strategic orders lowering prices every few hours.
Melania saw overwhelming sales pressure in the most active Dex pair as the whales continued to cash out and crash prices. |Source: DexScreener
Over the past few days, Melania has dropped from a level of about $0.70 to $0.63. The token still has DEX liquidity above $83 million, which could potentially reduce sales pressure for some time. Sales pressure on the Dex pair has resulted in an even greater decline for Melania. The token traded for around $0.66 in the centralized market.
Melania has already wiped out billions of dollars, not $13.73 from the peak of the trade. However, even in the lower range, value extraction continues. Melania is held by 246,375 owners, far surpassing other meme tokens. Price crashes and low liquidity available allow holders to be unable to cash out, and you can see the tokens get even lower.
Davis used a quiet market period to drop his holdings
Davis linked wallets continued to drain tokens using both centralized market and DEX liquidity pairs.
1/ Hayden Davis is still selling Melania
He recently sent $1 million in exchange and extracted more than $2 million from the liquidity pool 🧵pic.twitter.com/1swikgmtxj
– Bubblemaps (@bubblemaps) March 28, 2025
Davis was linked to Shilling and Market Making Libra tokenwas investigated by Coffee Zilla for his aggressive approach to pumping meme tokens. Davis reportedly still has largely control Libra Supplyseveral sales or liquidity swaps have been attracting attention in March.
Until recently, the address of known melania belonging to Davis remained inactive. Melania saw a limited price action, mainly due to the location of high lipid derivatives. After a period of inactivity, Davis began selling Melania through unilateral fluidity, a technique used in Libra tokens.
Davis also used Kraken and MEXC to place more than $1 million in holdings. He recognized profits of more than $2 million in profits from the DEX liquidity pair over two weeks. This could weaken Melania’s liquidity conditions and continue the trend as Davis has other wallets that are not yet sold.
Over the past two weeks, Davis has also continued to sell Libra even after a scandal that lost $100 million for early investors and essentially derailed the project. However, Libra retains some liquidity, so early whales can still trade and put in cash.
Davis also uses Solana’s Crypto Lending app Kamino to unleash the fluidity of Melania and Libra. The sale began both from wallets belonging to Davis and from wallets controlled by his company, Kelsier Finance.
Kelsier Ventures is known wallet It currently holds over $9.41 million in Crypto tokens. The main token movements are Solana-based Dex through Jupiter’s aggregators, and Camino Finance for using meme tokens as collateral. Other wallets belonging to Davis moved the Sol used to shoot Libra and sent it to Coinbase for cash out. However, Davis has kept some of his revenues at USDC, but is not authorized by central exchange or blacklisted by circles.
Melania sales came from Community Wallet
A more detailed on-chain survey shows that the Melania Project actually sold funds from what appears to be a community reserve. The 20% set for community outreach was used to profit from the liquidity pool, securing $2.5 million in SoL. With DEX, LPs can add melania and remove SOL, allowing them to drain the pool and crash the price.
The community wallet was not sold directly, but we exchanged tokens for four new liquidity pools.
Tokens from the community safe were placed in four pools and had significant liquidity on one side. This allowed the one-sided liquidity provider to extract $2.5 million from the pool. Three of the pools were drained and stalled and replaced, but one of them Stay active.
Dex’s activities are not completely regulated, so there were no results for sellers to drain the pool. At one point, on-chain data shows one-sided liquidity providers for Kelsier wallets 500,000 dollars was extracted Within a few minutes.
