Crypto Whales Suffer Losses on TRUMP Memecoin
Even the biggest crypto investors can have bad days. A recent analysis by Lookonchain shows that one crypto whale lost over $15.5 million on the TRUMP memecoin.
On March 28, Lookonchain shared data on X, revealing that a whale sold 743,940 TRUMP tokens for $10.66 each,resulting in a $3.3 million loss. This wasn’t the only loss for the investor.The data shows that the whale only made a profit on their first trade, while the next three trades resulted in losses, totaling $15.7 million.
It wasn’t just this whale who suffered. Many other investors also took a hit as the hype around the TRUMP memecoin faded. In early March, another whale lost $24.35 million on their second trade, after making $11.82 million on their first. they also lost $201,000 on their third trade.
The TRUMP memecoin, which was backed by Donald Trump, saw a price surge after he mentioned it on Truth Social. It reached a high of $73.43 on January 19. However,like many memecoins,its value has since crashed. As of now, TRUMP is trading at around $10.38, down 86% from its all-time high.
These losses highlight the risks of investing in memecoins. While they can offer high returns, they are also highly volatile and can result in significant losses.
