TRUMP token was off to a stellar begin however whales have now dumped the Solana meme coin or transferred the token to unknown wallets. This comes after the Donald Trump inauguration ceremony, an occasion that was anticipated to spice up the boldness of crypto buyers. Values of all main meme cash are down, particularly Solana tokens together with MELANIA.
Crypto Whales Dump TRUMP Meme Coin
A complete of two transactions have surfaced, displaying transactions of both sale or switch of TRUMP tokens. They are collectively price $74.22 million and have occurred proper after the US Presidential Inauguration, the place Donald Trump took oath for the second time. The first transaction, as reported by Lookonchain via an X post, highlighted {that a} pockets named Ansem bought 194,799 TRUMP tokens price roughly $6.83 million.
Ansem had spent 9.38 million USDC to purchase these tokens at $48.14. The pockets has bought them at 35.04 thereby, dropping round $2.55 million.
Another transaction, as reported by Whale Alert, highlighted that an unknown pockets transferred 1,621,351 TRUMP meme cash price virtually $67,392,467 to a different unknown pockets. This has sparked hypothesis that extra sell-offs could possibly be on the way in which as the worth of the TRUMP token continues to plunge sharply.
Simultaneously, the hypothesis additional soared because the TRUMP meme coin famous a decline of over 40% within the final 24 hours. Notably, the meme coin has been on the buyers’ radar recently, with Coinbase announcing support for TRUMP underneath the experimental class.
Solana Meme Coins Plunge
All main Solana meme tokens have plunged within the final 24 hours. This consists of the likes of BONK and WIF, with each down by 1.7% and 5.4%, listed at $0.00002911 and $1.37, respectively. MELANIA can also be down by 62.7%, exchanging arms at $4.13, adopted by MEW which has misplaced 7.1% of its worth throughout the identical time window.
A decline in values throughout the Solana meme coin section comes amid stories that Cuba could have sparked a pump-and-dump scheme. Investor scrutiny started when Cuba rug-pulled $158 million in 24 hours, throughout which it additionally recorded a market cap of $30 million.
Nevertheless, Coingecko is displaying indicators to purchase the dips in BONK and WIF, with buyers anticipated to undertake the identical strategy for TRUMP meme cash as nicely.
Sentiments Across Meme Coin Segment
All the most important meme cash are down regardless of TRUMP gaining over 440% since its launch. CoinMarketCap exhibits that the worth of DOGE, the leading meme coin by way of market cap, has misplaced 6.62% over the previous day and is now listed at $0.3409. Notably, the decline in DOGE worth is accompanied by a fall of round 9% in SHIB worth.
The inauguration ceremony of Donald Trump because the forty seventh US President has concluded, and he has expressed his resolve to signal main govt orders together with the one associated to cryptocurrencies. It now stays to be seen how lengthy the continuing sentiments final for the TRUMP meme coin and others on the record.
Coingape Staff
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