Recent sell-offs of the TRUMP meme coin by crypto whales are causing concern in the market as investors witness significant losses.
TRUMP Sales by Crypto Whales
Crypto whales have begun actively selling the TRUMP meme coin linked to the former President of the United States. The crypto analysis platform Lookonchain reported several large transactions related to this cryptocurrency sell-off.
Losses from Sales
According to data from Lookonchain, two whales incurred losses of $2.34 million after selling 765,128 TRUMP, which cost them $8.58 million. The first whale gained $196,000 from TRUMP purchases but sold 337,560 TRUMP for $3.81 million, losing $1.38 million. Similarly, a second whale who earned $732,000 after buying TRUMP sold 427,568 units for $4.77 million, facing a loss of $961,000.
Interest in Meme Coins
These transactions indicate that the market has wiped out the whales' previous gains, along with additional losses around $1.42 million. This highlights the declining fortunes of the TRUMP meme coin, while interest in another meme coin, MELANIA, now raises questions.
Recent sell-offs of TRUMP and MELANIA meme coins reflect the volatility and uncertainty in the crypto market, urging investors to remain cautious.
