TRUMP Whale Bleeds Millions in Market Wipeout, Sparking Meme Coin Sell-Off

Meme coin investors are reeling from a brutal downturn, with TRUMP price leading the losses. The token, which once surged on political hype, has now plummeted, wiping out millions from traders’ portfolios.

Meme coin investors are facing massive losses as the hype surrounding TRUMP fades. The Solana-based token, which once soared to $73.43 on January 19, has now plummeted, wiping out millions from traders' portfolios.

According to on-chain data from Lookonchain, a TRUMP "Whale" lost an astounding $21 million in the market sell-off. The whale initially made an $11.8 million profit but later went all-in, accumulating 766,083 TRUMP tokens for $33.9 million. However, as the market crashed, the trader's holdings took a severe hit, turning their gains into a loss of $21 million.

TRUMP price has spiraled downward, crashing 75.10% from its peak of $74.59 to $18.57, sending shockwaves across the meme coin sector. The carnage has sparked discussions on the risks of meme coin trading, especially in the face of high volatility.

The steep decline in TRUMP price follows the launch of Melania Trump's meme coin, MELANIA, on February 14. The launch triggered mass exits from TRUMP, with traders rushing to sell the token and book profits.

Moreover, the market downturn has forced whales to sell their TRUMP holdings to recoup their losses. One trader liquidated 860,895 TRUMP for $23.8 million in USDC, securing a hefty profit. However, this exit further pressured TRUMP's price, contributing to its steep decline.

TRUMP was one of the biggest meme coin gainers earlier this year, benefiting from political narratives and speculation. However, the token's gains have now turned into losses, making it one of the worst performers in the market.

Over the past seven days, TRUMP price has fallen 36%, slipping to $17.92 at one point. Market data shows a massive slowdown in trading activity, with TRUMP recording $2.46 billion in 24-hour volume, marking a 93% drop from the $36 billion peak on Inauguration Day.

The token, which once held the second spot among meme coins, now lags behind Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) in terms of 24-hour trading volume.

As TRUMP price continues to decline, other meme coins are also facing selling pressure. DOGE fell 15% last week, while SHIB dropped 11%.

Traders who previously capitalized on meme coin pumps are now facing severe losses, fueling concerns about the sustainability of speculative assets, such as meme coins, which lack strong fundamentals and are driven purely by hype.

While some traders anticipate a bounce in TRUMP price, others warn that meme coins are inherently risky and could continue to decline if market sentiment worsens.