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Cryptocurrency News Articles
The Trump TRUMP/USD Meme Coin has plunged 42.6% in the past week, following Donald Trump's tariff announcement—a sharp reversal for the high-flying meme crypto.
Feb 04, 2025 at 08:30 pm
According to Lookonchain, a whale who had pocketed $11.8 million in TRUMP gains in mid-January reinvested his profits, only to see the trade turn against him.
The Trump (CRYPTO: TRUMP) meme coin has plunged 42.6% over the last week, emerging as one of the worst performers amid Donald Trump's tariff announcement.
What Happened: A whale who pocketed $11.8 million in TRUMP gains in mid-January reinvested his profits, only to see the trade turn against him, according to Lookonchain.
The whale spent $33.9 million to acquire 766,083 TRUMP at an average price of $44.25, only to suffer a $21 million loss as prices collapsed.
This move erased not only their entire profit but also $9 million of the original capital.
Despite this steep drop, data from Merkle Science and Chainalysis, cited by Reuters, showed TRUMP having generated $100 million in trading fees in less than two weeks, highlighting continued high-volume activity.
Once the best performing meme coin before the tariff news, TRUMP has now lost nearly 50% of its total valuation in just days.
See More: Best Meme Coins To Buy Now
Trader Talk: Trader Johnny believes buying TRUMP under $20 will be seen as a bargain in the coming months, predicting that it will ultimately reach new all-time highs.
I think buying $TRUMP sub $20 will be looked as a steal a few months from nowExpecting this to go to new ATH's at some point pic.twitter.com/6DDkqvUoUf
Rodney, another crypto trader, notes that despite the crash, TRUMP still holds the fourth position among meme coins, urging investors to stay patient for a recovery.
Meanwhile, Trader Viktor observes that while the TRUMP and MELANIA meme coins were attractive short hedges, the risk/reward dynamics have shifted.
He describes TRUMP as a low beta bleeding coin with many underwater bagholders, but also points out that liquidity is so thick that volatility has decreased.
Disclaimer:info@kdj.com
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