As an experienced analyst, I’ve seen my fair share of cryptocurrency markets undergoing extreme volatility and uncertainty. However, the recent sale by the major Trump token holder, ‘0x52C0’, is a testament to the potential rewards that can come with riding the waves of this market.
As a crypto investor, I’ve come to expect the unpredictable nature and volatile swings in the cryptocurrency market. However, a significant holder of Trump tokens would likely challenge this perspective based on recent events.
Massive ROI for Trump Token Whale but Meme Coin Market Suffers Repeated Hits
In the past 24 hours, the Trump token has experienced a significant decline, losing over 30% of its value and reaching a low of $7.88. On a weekly basis, its value has dropped by 37%.
Analysts attribute the recent drop in value to unconfirmed reports of a TrumpCoin initiative led by Barron Trump, the former US president’s son, on the Solana platform. Despite the lack of confirmation from the Trump camp, the market continues to be influenced by speculation.
Although he has sold a large chunk of it, the investor still owns around 28% of his total crypto holdings in Trump tokens, which are valued at roughly $372,000. The major component of his portfolio, representing over 71%, is BasedAI (BASEDAI) coins, worth approximately $921,000.
As a researcher studying the memecoin market, I’ve observed that the recent sell-off by the address ‘0x52C0’ is indicative of the current market trends. Notably, popular memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and others have all experienced significant declines. For instance, DOGE has dropped by around 13%, SHIB by over 18%, and PEPE by more than 13%. Similarly, the Solana-based Dogwifhat (WIF) has plummeted by over 20%.
As a researcher examining the meme coin market, I’ve observed a noteworthy decrease of approximately 9% in the total market capitalization, which now amounts to around $46.6 billion. Surprisingly, trading volumes have experienced a significant surge, increasing by over 79% to reach roughly $6.25 billion.
Similar Whale Activity
As Trump token holders with notable influence continue to act, they seem to be cashing in on the downturn by realizing substantial profits. Wallet ‘0x35D1’ achieved a $648,000 profit, while trader sighduck.eth reported millions in earnings following a 1,500% increase in their investment.
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2024-06-18 16:00