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- A trader lost $21M on TRUMP after investing heavily in the token.
- TRUMP has nosedived 75% from its all-time high of $74.59.
- The broader meme coin market struggles amid market-wide liquidations.
Meme coin investors are reeling from a brutal downturn, with TRUMP price leading the losses. The token, which once surged on political hype, has now plummeted, wiping out millions from traders’ portfolios.
TRUMP Whale Bleeds Millions in Market Wipeout
A TRUMP Whale saw a staggering $21 Million vanish after going all-in on TRUMP, the Solana-based meme coin.
On-chain data from Lookonchain revealed that the whale initially made an $11.8 Million profit but then splurged $33.9 Million to accumulate 766,083 TRUMP tokens.
As the market collapsed, the trader’s holdings took a massive hit, wiping out gains and sinking into a loss of $21 Million.
TRUMP price has spiraled downward, crashing 75.10% from its peak of $74.59 to $18.57, sending shockwaves across the meme coin sector. The carnage has intensified discussions on the risks of meme coin trading, especially amid heightened volatility.
Meme coin investors are feeling the heat as the hype surrounding TRUMP fades. The token, which soared to $73.43 on January 19, has now plunged, following the launch of Melania Trump’s meme coin, MELANIA, which triggered mass exits.
The market downturn has forced whales to liquidate, further pressuring TRUMP. One trader dumped 860,895 TRUMP for $23.8M USDC, securing a hefty profit, but the exit contributed to the token’s steep decline.
TRUMP Plunge Sparks Meme Coin Sell-Off
TRUMP was among the biggest meme coin gainers earlier this year, benefiting from political narratives and speculation.
However, the token has now become one of the market’s worst performers. Over the past seven days, TRUMP price has fallen 36%, slipping to $17.92 at one point.
Market data shows a massive slowdown in trading activity. TRUMP recorded $2.46 Billion in 24-hour volume, marking a 93% drop from the $36 Billion peak on Inauguration Day. The token, which once held the second spot among meme coins, now lags behind Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).
As TRUMP price declines, other meme coins are also struggling. DOGE fell 15% last week, while SHIB dropped 11%.
Traders who previously capitalized on meme coin pumps are now facing severe losses, fueling concerns about the sustainability of speculative assets.
While some traders expect a bounce, others warn that meme coins are driven purely by hype, lacking fundamental value.
If market sentiment does not improve, TRUMP’s slide could continue. The coming weeks will be crucial as traders watch for signs of recovery or further losses in the meme coin sector.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
