Maga Memecoin official statistics show that an additional $765,697 worth of TRUMP has been burned and removed from the total supply.
A whale has dumped 100,099 Maga Memecoin (TRUMP) tokens in two hours, leading to a 7.6% drop in the meme coin's price.
According to Spot On Chain data, the whale sold the TRUMP tokens for 184 Ethereum (ETH) at an average price of $6.41. The total value of the dump is $642,000.
The whale, who has been accumulating and selling TRUMP tokens since March 2024, now holds 5,248 TRUMP, valued at $489,000.
The whale's initial purchase was 495,000 TRUMP for 250,000 USDT at $0.505 on Jan.19. Throughout the whale's noted activity, an estimated total profit of $3.36 million is attained, marking an increase of +1,343% on the initial investment.
The whale's portfolio also includes USDT and ETH token holdings, and the whale's history reveals a purchase of 495,000 TRUMP for 250,000 USDT at $0.505 on Jan.19. On average, since March 10, 2024, the whale has sold 419,752 TRUMP for $3.12 million worth of ETH and USDC.
As of the latest data, the whale's average selling price for TRUMP is $7.43, while the average buying price is $0.505, showing a +1,376% return on the initial investment. The whale's remaining TRUMP tokens are in the green, with an average price of $93.33.
Maga Memecoin's official statistics show that an additional $765,697 worth of TRUMP has been burned and removed from the total supply, moving the token's burn address up to 1.70% in holdings.
Crypto trader William noted that the TRUMP chart is healthy and currently consolidating at previous range highs. He expects the meme coin to run to all-time highs if Bitcoin turns around.
Full-time crypto trader Johnny Woo expects July to be a green month for the meme coin.
TRUMP lost 4.6% of its value in the past 24 hours, adding to its monthly loss of 61.7%. It is currently trading at a valuation of $300 million.
The institutional adoption of meme coins and Bitcoin as an asset class will be covered at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
The above is the detailed content of Maga Memecoin TRUMP/USD Suffers Downtrend as Whale Dumps $1.5M Worth of Tokens. For more information, please follow other related articles on the PHP Chinese website!
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