A major holder of the TRUMP memecoin, often referred to as a whale, has secured a $3.7 million profit after selling a significant portion of their tokens during the recent market downturn.
The whale, known by the wallet address “0x52C0,” sold over 171,000 TRUMP tokens for 414 Ether, valued at $1.44 million over the past 24 hours. This sale resulted in a total profit of over $3.7 million, marking an impressive return of more than 1,428% on their initial investment.
According to a June 18 post by Lookonchain, the whale executed these sales at the $8.38 price point for the TRUMP token.
Despite the substantial sell-off, 28% of the whale’s portfolio still consists of TRUMP tokens, valued at approximately $372,000. Their largest holding is the BasedAI (BASEDAI) token, worth around $921,000, which accounts for over 71% of their wallet’s total value.
At its highest point on June 2, the whale’s wallet was valued at $7.53 million, according to CoinStats.
Summary Review: This significant profit-taking event by a TRUMP token whale highlights the volatility and potential for substantial gains within the memecoin market. However, it also underscores the inherent risks and fluctuations that come with investing in these highly speculative digital assets. As the market continues to evolve, both opportunities and challenges will shape the landscape for investors and participants.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
