A cryptocurrency investor, known as a “whale” due to their large holdings, just suffered a massive loss on the TRUMP memecoin. Blockchain analytics firm Lookonchain reported the whale sold their entire stake, resulting in a staggering $24.4 million loss.
The Whale’s Misfortune
The whale initially bought 763,582 TRUMP tokens about a month ago for $33.9 million. Unfortunately, the price plummeted, and they were forced to sell at around $9.48 million. This wasn’t their first rodeo with TRUMP; they’d previously profited $11.8 million from the coin. This time, however, their second investment resulted in wiping out all previous gains and an additional $12.6 million loss.
TRUMP’s Price Crash
The TRUMP memecoin, launched just before President Trump’s inauguration, has seen a dramatic price drop. It’s currently trading at $13.06, down approximately 82% from its all-time high of around $73.45 reached last month.
Important Note
This information is for informational purposes only and should not be considered investment advice. Investing in cryptocurrencies is inherently risky, and you could lose money. Always do your own research before investing.
