Oh honey, it’s been a wild ride in the world of crypto, hasn’t it? 🤣 Just a day after Donald Trump was sworn in as the 47th President of the U.S., those pesky whales got burned – literally – by Trump-backed meme coins MELANIA and TRUMP.
I mean, who needs stability when you can have “America First” and a bunch of worthless coins, right? 😂 Just two days before his inauguration, Trump launched his meme coin, Official TRUMP (TRUMP), on the Solana (SOL) blockchain and it skyrocketed like a Kardashian’s carbon footprint. From $6.24 to $75 – yes, that’s an 840% jump, folks!
But, as we all know, what goes up must come down – and boy, did it ever! As of this writing, TRUMP has dropped almost 57% to $33. I mean, I’m no crypto expert, but I’m pretty sure that’s a big fat loss. 🤦♀️
Look who’s losing now… 🤑 A wallet named Ansem (@blknoiz06) sold 194,799 $TRUMP ($6.83M) 2 hours ago, losing $2.55M! #Ansem spent 9.38M $USDC to buy 194,799 $TRUMP at $48.14, then sold it at $35.04 for 6.83M $USDC.
— Lookonchain (@lookonchain) January 21, 2025
And if that wasn’t enough, another whale just spent $5.1 million on Melania Meme (MELANIA) tokens at $11.60 each, only to see it tank by 75% and lose a whoppin’ $3.53 million. Guess that’s what happens when you invest in a token tied to the power couple… right? 😂
Yesterday, a whale spent 20,185 $SOL worth $5.1M to buy 440,136 $MELANIA at $11.60.
Currently, these $MELANIA are worth $1.56M with $MELANIA down ~75%, the whale is facing a floating loss of $3.53M.
Address: 9WgB46v1hMbT51ZMut68RfMfLq3VnbHJhk9ngy57Zo5Z
— Onchain Lens (@OnchainLens) January 21, 2025
Meanwhile, the crypto community is still trying to wrap its head around the fact that Trump didn’t mention crypto during his swearing-in ceremony. I mean, it’s not like he had better things to do? 🤣
As the crypto space is still trying to make sense of this, Ki Young Ju, CEO of CryptoQuant, has boldly predicted that meme coins will remain a dominant force in the crypto world through 2028 – yep, as long as Trump’s presidency lasts. Who knows, maybe it’s time to get on the meme coin bandwagon? 🎉
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2025-01-21 08:36