Crypto whales are experiencing substantial losses with memecoins TRUMP and MELANIA, as recent on-chain data reveals dramatic sell-offs. Analysts attribute these losses to the ongoing crypto market downturn and large-scale liquidations. 💰 📈 📉
Spot on Chain reports that a significant whale dumped nearly 13.98 million MELANIA coins, resulting in a $14.9 million loss in a single transaction. This massive sell-off led to a 51% monthly decline for the token.
Another notable whale liquidated over 763,000 TRUMP coins, incurring a staggering $25.5 million loss and representing a 72% monthly drop. The whale’s exit from its third TRUMP trade underscores these substantial losses.
This selling trend coincides with the broader crypto market downturn, with both TRUMP and MELANIA experiencing sharp price drops.
TRUMP (the token) is currently trading above $13, down 13% today after suffering a notable drop of over 10% in just a short timeframe.
MELANIA (also known as the Melania Trump Coin), on the other hand, has dropped by over 25% in the past 24 hours. It currently trades at around $0.91 with a market cap of more than $493 million. This decline follows a sharp drop from its ATH (highest trading price) which was above $13.6 on January 20th.
The recent sell-offs follow the launch of both TRUMP and MELANIA memecoins just weeks ago, coinciding with market volatility following President Trump’s inauguration. 🇺🇸