Crypto whales have transferred TRUMP tokens valued at more than $74 million within 24 hours. TRUMP meme coin prices are continuing to decrease.
The TRUMP token was off to a great start, but whales have since either sold the Solana meme coin or transferred it to unknown wallets. This occurred after the Donald Trump inauguration ceremony, which was anticipated to increase the confidence of cryptocurrency investors. The values of all leading meme coins, particularly Solana tokens such as MELANIA, are declining.
Crypto Whales Dump Trump Meme Coin
A total of two transactions have been identified, which were either sales or transfers of TRUMP tokens. They occurred immediately following the US Presidential Inauguration, during which Donald Trump took his second oath of office, and are collectively valued at $74.22 million. The initial transaction, as reported by Lookonchain in an X post, indicated that a wallet named Ansem sold 194,799 TRUMP tokens valued at approximately $6.83 million.
Ansem had acquired these tokens at $48.14 for 9.38 million USDC. The wallet has sold them at 35.04, resulting in a loss of approximately $2.55 million.
Another transaction, as reported by Whale Alert, demonstrated that an unknown wallet transferred 1,621,351 TRUMP meme coins, which were valued at nearly $67,392,467, to another unknown wallet. This has prompted speculation that additional sell-offs may be imminent as the TRUMP token’s value continues to plummet precipitously.
Concurrently, the TRUMP meme coin experienced a decline of over 40% in the past 24 hours, further fueling speculation. Coinbase has recently announced its support for TRUMP under the experimental category, which has piqued the interest of investors in the caricature coin.
The Plunge of Solana Meme Coins
In the past 24 hours, the prices of all significant Solana meme tokens have plummeted. This comprises BONK and WIF, priced at $0.00002911 and $1.37, respectively, and have experienced declines of 1.7% and 5.4%, respectively. MELANIA is also down by 62.7%, trading at $4.13, while MEW has lost 7.1% of its value during the same time frame.
In the wake of allegations that Cuba may have initiated a pump-and-dump scheme, the Solana meme coin segment has experienced a decline in value. A market cap of $30 million was registered by Cuba, which rug-pulled $158 million in 24 hours, prompting investor scrutiny.
Nevertheless, Coingecko is indicating that it is time to purchase the dips in BONK and WIF, and it is anticipated that investors will follow the same strategy for TRUMP meme currencies.
Sentiments in the Meme Coin Segment
Despite TRUMP’s 440% increase since its inception, all of the leading meme coins are currently experiencing a decline. The value of DOGE, the foremost meme coin in terms of market cap, has decreased by 6.62% over the past day and is currently listed at $0.3409, according to CoinMarketCap. It is important to note that the price of DOGE has decreased by approximately 9% in conjunction with the price of SHIB.
Donald Trump, the 47th President of the United States, has concluded his inauguration ceremony and has pledged to sign significant executive orders, including the one concerning cryptocurrencies. The duration of the ongoing sentiments regarding the TRUMP meme coin and other items on the list is unknown.
