TRUMP Token Whale Makes $3.7M Profit During Market Sell-Off

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

A TRUMP token whale has made a massive profit during the current market sell-off. As reported by a June 18 post by Lookonchain, a large holder, identified as wallet “0x52C0,” sold over 171,000 TRUMP tokens, making a $3.7 million profit. The sale, worth 414 Ether or $1.44 million, was completed within 24 hours.

The whale, who initially purchased the tokens for $0.25 each, achieved a 1,428% return on their investment. At the time of reporting, 28% of the whale’s wallet was still in TRUMP tokens, valued at $372,000. Their largest asset was BasedAI (BASEDAI) tokens, which were worth $921,000 and accounted for over 71% of their portfolio.

TRUMP Token Price Drops After Major Sale

After the whale's major sale, the price of the TRUMP token dropped significantly. According to CoinMarketCap data, the token fell over 30% in 24 hours and traded at $7.88. On a weekly chart, it was down more than 37%.

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

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

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

Other TRUMP Token Whales Also Take Profits

Other major holders also sold their TRUMP tokens to lock in profits. For instance, wallet “0x35D1” made a $648,000 profit from selling their tokens. Meanwhile, the trader known as sighduck.eth achieved an over 1,500% gain, netting $1.88 million from their sales.

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

It is worth noting that the total market capitalization of memecoins fell by 9.4% to $46.6 billion in the past 24 hours, while the trading volume rose by 79% to $6.25 billion.