Crypto Whale Lose Faith in Trump Token. Loses 28% Due to Selloffs
The Trump Token ($TRUMP) has seen several large-scale trades from whales in the crypto world, resulting in substantial profits for these savvy investors while raising questions about the future direction of the $TRUMP token.
According to the source, 0x52C0 a whale account sold a staggering 171,842 $TRUMP for 414 ETH, valued at approximately $1.44 million at the time of the transaction. This move resulted in a profit of roughly $3.7 million, representing an astounding 1428% return on their initial investment.
Furthermore, sighduck.eth a crypto account, In a single trade just eight hours ago, unloaded 173,542 $TRUMP for 1.25 million USDC. This transaction generated a profit of $1.88 million, marking a 1500% return.
0x35D1 another whale account sold 128,059 $TRUMP for 204 ETH, valued at $703.6 thousand, just two hours ago. This trade yielded a profit of $648 thousand, representing an 1164% return.
Notably, these trades, all executed within a short timeframe, highlight a clear trend: significant players are capitalizing on the price volatility of the $TRUMP token. Whether this represents a calculated exit strategy or simply opportunistic trading remains a matter of speculation.
Trump Solana Memecoin Surges after Alleged Hack of Pirate Wires X
A Solana-based meme coin, aptly named $DJT after former US President Donald Trump, experienced a sudden surge in value following a tweet from the Pirate Wires account, an independent media outlet known for its sharp commentary on crypto trends.
The original tweet, which sparked the $DJT frenzy, claimed that Trump had announced plans to invest in the coin. This sparked immediate interest, driving up the coin’s price significantly.
However, the crypto community on X challenged the tweet’s authenticity, many of whom pointed to the account’s unusual behavior.
Further fueling the suspicion, shortly after the initial tweet, the account of Pirate Wires founder, Michael Solana, posted a contract address for the $DJT token. The community became more doubtful when neither Pirate Wires nor Michael Solana confirmed or denied the authenticity of the tweet or the contract address. This action led people to believe that the founder’s account was compromised.
The investigation into the authenticity of the tweet and the subsequent events surrounding the $DJT token remains ongoing.