TRUMP token was off to a stellar begin however whales have now dumped the Solana meme coin or transferred the token to unknown wallets. This comes after the Donald Trump inauguration ceremony, an occasion that was anticipated to spice up the boldness of crypto traders. Values of all main meme cash are down, particularly Solana tokens together with MELANIA.
Crypto Whales Dump TRUMP Meme Coin
A complete of two transactions have surfaced, exhibiting transactions of both sale or switch of TRUMP tokens. They’re collectively price $74.22 million and have occurred proper after the US Presidential Inauguration, the place Donald Trump took oath for the second time. The primary transaction, as reported by Lookonchain via an X post, highlighted {that a} pockets named Ansem offered 194,799 TRUMP tokens price roughly $6.83 million.
Ansem had spent 9.38 million USDC to purchase these tokens at $48.14. The pockets has offered them at 35.04 thereby, shedding round $2.55 million.
One other transaction, as reported by Whale Alert, highlighted that an unknown pockets transferred 1,621,351 TRUMP meme cash price nearly $67,392,467 to a different unknown pockets. This has sparked hypothesis that extra sell-offs could possibly be on the best way as the worth of the TRUMP token continues to plunge sharply.
Concurrently, the hypothesis additional soared because the TRUMP meme coin famous a decline of over 40% within the final 24 hours. Notably, the meme coin has been on the traders’ radar these days, with Coinbase announcing support for TRUMP below the experimental class.
Solana Meme Cash Plunge
All main Solana meme tokens have plunged within the final 24 hours. This consists of the likes of BONK and WIF, with each down by 1.7% and 5.4%, listed at $0.00002911 and $1.37, respectively. MELANIA can also be down by 62.7%, exchanging fingers at $4.13, adopted by MEW which has misplaced 7.1% of its worth throughout the identical time window.
A decline in values throughout the Solana meme coin phase comes amid reviews that Cuba could have sparked a pump-and-dump scheme. Investor scrutiny started when Cuba rug-pulled $158 million in 24 hours, throughout which it additionally recorded a market cap of $30 million.
However, Coingecko is exhibiting alerts to purchase the dips in BONK and WIF, with traders anticipated to undertake the identical method for TRUMP meme cash as effectively.
Sentiments Throughout Meme Coin Phase
All the most important meme cash are down regardless of TRUMP gaining over 440% since its launch. CoinMarketCap reveals that the worth of DOGE, the leading meme coin when it comes to market cap, has misplaced 6.62% over the previous day and is now listed at $0.3409. Notably, the decline in DOGE value is accompanied by a fall of round 9% in SHIB value.
The inauguration ceremony of Donald Trump because the forty seventh US President has concluded, and he has expressed his resolve to signal main govt orders together with the one associated to cryptocurrencies. It now stays to be seen how lengthy the continued sentiments final for the TRUMP meme coin and others on the listing.
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