Big Crypto Investor Loses $15 Million on TRUMP Trades With Increasingly Risky Bets
According to analysts, even prominent crypto whales encounter tough times, with one reportedly losing over $15.5 million on a poor investment in the TRUMP memecoin.
Crypto whales trading the TRUMP (TRUMP) memecoin have recently faced significant losses, with some individuals losing millions despite prior gains, as per data from Lookonchain. In a post on X on Friday, March 28, analysts disclosed that one whale sold over 743,940 TRUMP tokens, which had a value of $7.92 million, for $10.66 each, resulting in a loss of $3.3 million.
As reported by Lookonchain, the whale “only gained profit from his initial TRUMP trade,” stating that “the subsequent three resulted in losses,” accumulating a total loss of $15.7 million for the whale. This trend wasn’t limited to one whale; data indicates that many others also experienced declines as the hype surrounding the TRUMP memecoin appears to be waning.
Earlier in March, another whale’s experience with the Donald Trump-supported memecoin also encountered difficulties. After securing $11.82 million from their first TRUMP trade, the whale suffered a $24.35 million loss on the second transaction, followed by an additional loss of $201,000 on the third.
The TRUMP memecoin, which saw a price surge after Trump referenced it on Truth Social, reached a peak of $73.43 on January 19. However, similar to many memecoins, its price has since plummeted, and as of the latest updates, TRUMP is trading at approximately $10.38, which is an 86% decrease from its all-time high.