A major sell-off triggered a sharp decline for the Official Trump (TRUMP) meme coin, plummeting more than 13% in the past 24 hours after a prominent whale liquidated its entire holdings. The sale resulted in substantial losses for the investor, impacting market volatility and leading to a significant price drop for TRUMP. According to data from CoinMarketCap, TRUMP is currently trading at $13.12, reflecting a 57.7% decrease over the past month. This sell-off has pushed TRUMP down to the fourth position among meme cryptocurrencies with a valuation of $2.59 billion. Blockchain analysis by Lookonchain revealed that a whale dumped a staggering 763,582 TRUMP tokens for 9.48 million USDC in a single transaction, causing an approximate loss of $24.4 million for the investor. This whale had previously seen substantial gains with $11.8 million made from their initial investment in TRUMP before subsequently buying another $33.9 million worth of the token to increase their holding.
After this sale, the price of TRUMP has been impacted by market sentiment and volatility.