Today, several significant $TRUMP token holders, or “whales,” capitalized on their investments, selling large amounts of the token for substantial profits.
This activity has contributed to a sharp decline in the value of the $MAGA token, which has plummeted by 38% in the past 24 hours, bringing its market cap below $300 million.
In the past 24 hours, the address 0x52C0 sold 171,842 $TRUMP for 414 ETH, worth approximately $1.44 million, at a price of $8.38 per token. This transaction resulted in a remarkable profit of around $3.7 million, representing a 1428% gain on the $TRUMP tokens.
Another notable transaction involved sighduck.eth, who sold 173,542 $TRUMP for 1.25 million USDC in a single trade eight hours ago. This sale yielded a profit of $1.88 million, marking a 1500% increase on the initial investment in $TRUMP.
Another $TRUMP Whale Makes $648,000, Representing A 1164% Hain
Additionally, the address 0x35D1 sold 128,059 $TRUMP for 204 ETH, valued at approximately $703,600, in one trade two hours ago. This transaction resulted in a profit of $648,000, representing a 1164% gain on the $TRUMP tokens.
These significant sales by major $TRUMP holders have not gone unnoticed and have likely contributed to the recent decline in the token’s value. The $MAGA token has seen its market cap drop below $300 million, reflecting a loss of investor confidence and market stability.
Many $TRUMP whales sold $TRUMP for profits today!
0x52C0 sold 171,842 $TRUMP for 414 $ETH($1.44M) at $8.38 in the past 24 hours and made ~$3.7M(+1428%) on $TRUMP.https://t.co/ypys8DwW0p
sighduck.eth sold 173,542 $TRUMP for 1.25M $USDC in one trade 8 hours ago and made… pic.twitter.com/9t5F1Qn6za
— Lookonchain (@lookonchain) June 18, 2024
As the cryptocurrency market reacts to these large-scale sell-offs, it remains to be seen how the $TRUMP and $MAGA tokens will perform in the coming days.
The substantial profits realized by these whales underscore the volatility and potential for significant gains, but also highlight the risks and rapid fluctuations inherent in the cryptocurrency market. Investors will be watching closely to see if this trend continues or if new buyers will step in to stabilize the market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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