Today, January 19, 2024, while major cryptocurrencies appear to be struggling, Donald Trump’s newly launched meme coin, Official Trump (TRUMP), is making waves and gaining significant attention from crypto enthusiasts. The possible reason behind this attention is the upward momentum of the TRUMP coin of over 300% and a message from the newly elected President Trump.
Crypto Whale Sold Entire TRUMP Meme Coin
On January 18, 2024, following a post on X (formerly Twitter), TRUMP’s price began to rise. Noticing the potential for upside momentum, a crypto whale spent a significant 12 million USDC to purchase 860,895 TRUMP meme coins at an average price of $13.94.
However, as the price continued to rise significantly, the same whale dumped their entire TRUMP share at an average price of $27.67, making a profit of $11.8 million.
To add to this massive sell-off, a crypto expert on
TRUMP Price Momentum
Despite this substantial dumping, TRUMP reached a high of $35. However, due to some profit taking, the price now appears to be correcting. At the time of writing, the meme coin is trading at $27.75, making a significant gain of 330% in the last 24 hours.
This significant price increase over the past 24 hours has consistently attracted new investors and crypto giants, contributing to the continued price increases the meme coin is experiencing.
With only 200 million TRUMP out of the total supply of 1 billion currently in circulation, concerns are mounting about the potential impact of future token releases. A significant influx of tokens into the market could lead to price drops and corrections.