This wasn’t your average bad trade. The whale initially dropped 30 million USDC on the Trump-themed token before watching 51% of its value evaporate faster than campaign promises. They managed to salvage 14.32 million USDC in the fire sale.
And they weren’t alone in the bloodbath. A second whale, “Gu2bnm…xmni,” dumped 6.69 million tokens over two days, taking a $3.73 million hit after holding for just 22 days. That’s a 72% value wipeout. Ouch.
MELANIA’s current price? A measly $0.9210. Remember when it hit $13.73 shortly after launch? Those were the days. The token has crashed over 93% from its all-time high, erasing a staggering $12.8 billion in market cap.
The Solana-based memecoin, which launched before Donald Trump’s presidential inauguration, initially skyrocketed to over $2 billion market cap. It briefly topped crypto memecoin rankings before reality kicked in. Hard.
These whale sell-offs paint a grim picture for the broader memecoin sector. The TRUMP token hasn’t fared much better, down 82% from its peak. The ripple effects are hitting the entire interconnected crypto market.
Major whales dumping their bags signals disaster for memecoins across the board. The crypto dominoes are falling fast.
Traders are losing faith in celebrity memecoins. Fast. What once seemed like a ticket to easy riches now looks like a one-way trip to rekt city. Experts recommend position sizing and stop-loss orders as essential risk management tools in this volatile market. The Fear and Greed Index indicates extreme uncertainty as investors flee from speculative assets toward more established cryptocurrencies.
The market sentiment has turned decidedly bearish, with serious doubts about the stability of these assets. The token has also faced scrutiny over legitimacy related to potential ties with the scam-tainted LIBRA meme coin. Seems the hype train for political memecoins has not just slowed down—it’s derailed completely.
