TRUMP Token Whale Sells for $3.7M Profit as Memecoin Declines

TRUMP Token Whale
TRUMP Token Whale Makes Huge Profit

YEREVAN (CoinChapter.com) — A TRUMP token whale has made a significant profit during the current market sell-off. A large holder, identified as wallet “0x52C0,” sold over 171,000 TRUMP tokens, making a $3.7 million profit. This sale, worth 414 Ether or $1.44 million, was completed within 24 hours, according to a June 18 post by Lookonchain. The whale achieved a 1,428% return on their initial investment.


TRUMP Token Whales Cash In Amid Market Decline
Source: Lookonchain

TRUMP Token Whales Cash In Amid Market Decline. Source: Lookonchain

Despite selling a large portion, the whale still holds 28% of their wallet in TRUMP tokens, valued at $372,000. Their largest asset is BasedAI (BASEDAI) tokens, worth $921,000, accounting for over 71% of their portfolio.

TRUMP Token Price Drops After Major Sale

Critically, the TRUMP token’s price dropped significantly after the whale’s sale. The token fell over 30% in 24 hours, trading at $7.88. On a weekly chart, it is down more than 37%, according to CoinMarketCap data.

TRUMP/USDT, 4-hour chart. Source: CoinMarketCap
TRUMP/USDT, 4-hour chart. Source: CoinMarketCap

At its peak on June 2, the whale’s wallet was valued at $7.53 million.

Wallet “0x52C0,” holdings. Source: CoinStats
Wallet “0x52C0,” holdings. Source: CoinStats

The token’s decline coincided with rumors of an “official” Trump token launch on Solana. Interestingly, speculation pointed to Barron Trump, Donald Trump‘s 18-year-old son, leading the new token, named TrumpCoin (DJT).

Rumors of Trump's Official Token Launch on Solana
Source: Pirate Wires
Rumors of Trump’s Official Token Launch on Solana. Source: Pirate Wires

However, Trump’s team has not confirmed this, and blockchain data firms like Bubblemaps doubt the token’s connection to the Trump family.

Doubts on DJT Token’s Authenticity and Supply Distribution
Source: Bubblemaps
Doubts on DJT Token’s Authenticity and Supply Distribution. Source: Bubblemaps

Other TRUMP Token Whales Also Take Profits

Additionally, other major holders have also sold their TRUMP tokens to lock in profits. Wallet “0x35D1” made a $648,000 profit from selling their tokens. The trader known as sighduck.eth achieved an over 1,500% gain, netting $1.88 million from their sales.

Moreover, major memecoins, including Dogecoin and Shiba Inu, experienced significant declines. Dogecoin fell by 13%, while Shiba Inu dropped by 18% on the daily chart. Pepe and Solana-based Dogwifhat (WIF) saw declines of 13% and over 20%, respectively, according to CoinMarketCap.

Top memecoins by market capitalization. Source: CoinMarketCap
Top memecoins by market capitalization. Source: CoinMarketCap

Notably, the total market capitalization of memecoins fell by 9.4% to $46.6 billion in the past 24 hours. Trading volume rose by 79% to $6.25 billion.

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