Investor rebuys TRUMP Tokens After Missing Out on Price Surge
A crypto investor who sold a large TRUMP meme coin position has now bought back 337,000 tokens. The price is almost double their previous selling price. On-chain analyst Ember CN reported the whale spent 5.196 million USDC, paying $15.39 per token.
this purchase comes after the investor sold 630,000 TRUMP tokens at $8.70 each. They missed a significant price spike when a dinner event with former President Trump was announced. The event caused the token’s value to soar. The investor used 5.196 million USDC to re-enter the market. They paid an average of $15.39 per TRUMP token. This follows their earlier decision to sell at $8.70 each, just before the dinner event announcement. The event invited top 220 holders to a private dinner in Washington, D.C. the timing of their initial sale was unfortunate. They missed potential profits of about $3.8 million. The dinner plan caused the token’s value to surge. Ember CN noted, “He missed the surge after the dinner plan was announced. Today, he got back in at $15.39 per token.
The dinner announcement promised access to a private club with the former president. This positively impacted the token’s value.
Democratic lawmakers have scrutinized the dinner announcement. The largest holder currently possesses over 1.22 million tokens. Other traders are restructuring their portfolios to capitalize on the TRUMP token’s surge. Lookonchain identified a trader who swapped 1.18 million Fartcoin for 78,671 TRUMP tokens.
The TRUMP token’s value jumped close to 90% by the dinner event announcement.Though, it is indeed still down by close to 80% as its all-time high of $73. The promise of direct access to the former president has created a competition among holders.
