Will TRUMP start selling? Well sold $23.82 million in holdings
Today January 19, 2024 While major cryptocurrencies seem to be struggling, Donald Trump's newly launched meme coin, Official Trump (TRUMP) is making waves and getting a lot of attention from crypto enthusiasts. A POTENTIAL REASON BEHIND THIS ATTENTION IS TRUMP COIN'S RISE OF OVER 300% AND A POST MADE BY PRESIDENT-Elect TRUMP.
Crypto Well will sell the whole TRUMP Meme coin
On January 18, 2024, following a post on X (formerly Twitter), TRUMP's value began to rise. Recognizing the potential for upside, CryptoWall spent $12 million to buy 860,895 TRUMP meme coins at an average price of $13.94.
But as the price rose sharply, the same whale dumped its TRUMP holdings at an average of $27.67, making a profit of $11.8 million.
Along with this massive sale price, Trump's team sold $500 million worth of TRUMP tokens, accounting for 85 percent of the total supply, a crypto expert told X.
TRUMP PRICE MOMENTUM
Even though this was a huge dump, TRUMP reached a high of $35. However, due to some profit accumulation, the price seems to be correcting now. At the time of writing, Meme Coin is trading at $27.75, a massive 330% gain in the last 24 hours.
This huge price increase has attracted new investors and crypto giants in the last 24 hours, which has caused the meme coin to experience a continuous price increase.
With only 200 million TRUMPs currently available out of a total supply of 1 billion, concerns are growing about the potential impact of future token releases. A significant influx of tokens into the market may result in price declines and corrections.
