The latest market data shows big cryptocurrency investors known as whales experience big losses the same as small-scale traders. Data shows one whale lost $15.5 million through several failed trades with the TRUMP memecoin.
Lookonchain reports that investors who bet on TRUMP yielded poor results despite previous successful trades. The analysts posted to X on March 28 studied trading records to find that a big TRUMP investor sold 743,940 tokens worth $7.92 million which dropped in value by $3.3 million on that single transaction at $10.66 per token.
Donald Trump’s Crypto Endorsement Fades
According to Lookonchain, all TRUMP trades after the first successful one produced losses for the investor. Our records show that the trader lost money in their next three trades which raised the total decline to $15.7 million. Research indicates that other investors have similar financial defeats because the TRUMP memecoin struggles to maintain popularity.
TRUMP coin impacts financial market instability across various market participants. Within March we detected dramatic price changes on a cryptocurrency linked to Donald Trump. When TRUMP launched its trading activity it made $11.82M but later lost $24.35M and then sustained another $201,000 defeat.
After Donald Trump promoted the TRUMP memecoin on Truth Social the token shot up to $73.43 on January 19 for its highest price ever. After its surge, the memecoin’s value dropped just like other investment fads. The TRUMP price stands at $10.38 as of publishing, and its value dropped 86% from its highest point.
Investors now understand that the cryptocurrency market remains highly unstable because it causes even knowledgeable traders to lose significant amounts of money.