Analyst data reveals that even major crypto whales can face setbacks, losing over $15.5 million with the TRUMP memecoin.
Losses of the Largest Whale
According to Lookonchain, one crypto whale sold over 743,940 TRUMP tokens, valued at $7.92 million. Each token was sold at $10.66, resulting in a $3.3 million loss.
Impact on Other Participants
Lookonchain data shows that it wasn't just one whale facing losses. Many others also experienced financial setbacks as the TRUMP memecoin hype seems to be waning. One whale, after making $11.82 million on the first trade, lost $24.35 million on the second, followed by a $201,000 loss on the third.
Market Situation of TRUMP Memecoin
The TRUMP memecoin, which recently surged in price after being mentioned by Donald Trump on Truth Social, reached a high of $73.43 on January 19. However, like many memecoins, its value has drastically decreased, and as of press time, TRUMP is trading at around $10.38, down 86% from its all-time high.
The situation with the TRUMP memecoin illustrates the highly volatile and risky nature of the cryptocurrency market, even for the biggest players.
