Donald Trump Promotes TRUMP Coin – Price Soars, But Whales Lose Hundreds of Thousands

TRUMP, the memecoin associated with former U.S. President Donald Trump, saw a sharp price surge after Trump promoted it on his Truth Social platform. In a March 23 post, Trump praised the cryptocurrency, calling it “AMAZING” and “the greatest of them all.” This was his first public endorsement of the coin since January, immediately reigniting interest in the crypto market. Following the post, TRUMP's price jumped from $10.93 to $12.25—a 12% increase—before stabilizing around $11.91. Derivatives Surge, But Even Whales Take a Hit Excitement spread beyond the spot market. Coinglass data showed that TRUMP’s derivatives trading volume skyrocketed by 373.30% to $2.61 billion, marking a multi-week high. At the same time, open interest in TRUMP futures increased by 25.25%, reaching $370.68 million, highlighting the renewed speculation surrounding the token. However, not all traders profited from the hype. On-chain analytics platform Lookonchain reported that a well-known whale, who had previously made $108 million from early TRUMP investments, lost $207,000 in just one hour. The trader spent $5 million buying into the rally but sold off the tokens shortly after Trump’s post, resulting in a six-figure loss. This misstep stood in stark contrast to the whale’s previous success—having originally invested $1.09 million to buy 5.97 million TRUMP tokens, which turned into one of the most profitable memecoin trades in recent history. Declining Interest in Memecoins Trump’s endorsement of TRUMP Coin sparked mixed reactions from the crypto community, with some pointing out that memecoin interest is fading. Crypto analyst Nishant Bhardwaj noted: "Donald Trump—arguably the most influential figure in the world—just posted about $TRUMP, yet the memecoin still couldn’t break its 4H resistance. If that doesn’t show how weak this market is, I don’t know what does." The launch of TRUMP Coin in January triggered a wave of similar token launches tied to public figures and political entities, many of which faced backlash over hype-driven speculation and lack of transparency. As a result, public interest in memecoins has declined, with investors increasingly shifting their focus toward stronger crypto projects like Bitcoin. #CryptoForBeginners #CryptoInvestingTips #LearnCrypto #BeginnerCryptoGuide #HowToInvestInCrypto