FT raises suspicions of insider trading just before the launch of Melania Trump meme coin

Just before the official launch of Melania Trump's meme coin, it was revealed that a certain wallet had purchased a large amount of tokens in advance, and insider
On the 6th (local time), the Financial Times (FT) reported that some cryptocurrency investors had been trading in cryptocurrency just before the launch of Melania Trump's meme coin "MELANIA."
The traders reported that they made about $100 million by purchasing millions of dollars worth of tokens.
A few minutes before the official announcement via media, he purchased MELANIA tokens worth about $2.6 million. After that, the token price soared from about $2 to $12.95, a 550% increase.
The FT reported that a total of 24 wallets were sold for $MELANIA, which sold for around 16.7 million out of a total supply of 200 million at launch.
"Within 42 seconds of the launch, an additional 22 accounts purchased approximately $900,000 worth of shares, and the selling continued."
The coin features former President Donald Trump, who was then president-elect.
announced the launch of his meme coin, TRUMP, and began trading two days later. Since their launch, both tokens have come under scrutiny from various politicians in the United States for alleged corruption, including conflicts of interest and possible inflows of foreign funds.
The cryptocurrency media outlet Cointelegraph reported that the controversy is focused on President Trump himself, rather than Melania.
After he announced he would offer top investors private dinners and tours with him, some senators viewed this as corrupt behavior and urged impeachment.
MELANIA and TRUMP soared immediately after their release in January, but are now falling sharply. As of 10:15 a.m. on the 7th, MELANIA ARMY coin was worth $0.32 at the time of reporting.
TRUMP, which surged immediately after the April dinner news, has now fallen to $11.14.