A well-known whale investor in the cryptocurrency market has incurred significant losses from trading TRUMP-themed memecoins. Here's how it unfolded.
Initial Major Profit Followed by Collapse
According to data from blockchain analytics platform Lookonchain, this whale initially made about 12 million dollars from a TRUMP memecoin trade. However, later aggressive transactions resulted in a 7.92 million dollar loss. Subsequent deals brought the total losses to approximately 15.7 million dollars.
Attempt to Rebuy Under Observation
Despite large losses, the investor hasn't given up. They spent 11.28 million dollars to purchase 777,684 TRUMP memecoins. With the market remaining unpredictable, it's unclear if this move will recover past losses.
Volatility and Associated Risks
The surge in TRUMP memecoin activity began with promises of high profits, but it has led to significant losses for some investors. Recent events highlight the high risks of short-term cryptocurrency investments.
The whale investor's story illustrates how quickly millions can be lost when chasing short-term profit opportunities in the cryptocurrency world.
