A crypto whale just missed out on a seriously huge payday. According to blockchain tracker Lookonchain, one trader, nicknamed “LeBron,” sold millions of a new meme coin called TRUMP way too early.
A Costly Mistake
LeBron sold over 4.5 million TRUMP tokens for around $1 each. The price then skyrocketed, meaning LeBron missed out on a potential profit of a whopping $180 million! To add insult to injury, LeBron later tried to buy back in, but ended up losing another $67,000.
Not the Only One
LeBron wasn’t alone in his premature selling. Lookonchain also highlighted several other whales who made similar mistakes, missing out on profits ranging from $107 million to $158 million. These traders all sold their TRUMP tokens before the price exploded.
TRUMP’s Wild Ride
The TRUMP coin launched on the Solana network and quickly caused a stir. The massive trading activity even prompted Circle, the issuer of the USDC stablecoin, to mint 2.5 billion USDC on Solana just four days after the launch. At the time of writing, TRUMP is trading at $38.74, down slightly from its peak.
The Bottom Line
This whole situation serves as a cautionary tale about the volatile nature of meme coins. While the potential for massive profits exists, so does the risk of significant losses if you time the market wrong. Always do your research and be prepared for wild price swings.
