$TRUMP Token Plummets 69% from ATH, Major Whale Sells at a Loss

The cryptocurrency market is not unfamiliar with volatility, and the recent price movement of the $TRUMP token serves as a stark reminder of the danger associated with this market.

After hitting its all-time high (ATH), the token has taken a sharp downturn, declining 69% from its peak. This downturn has caused some major losses for investors, including a whale who recently exited their position at a significant deficit.

One of the most remarkable recent trades involved a whale who opened a position in $TRUMP at $30.17 just three days ago. This investor came into the market with big dreams, undoubtedly hoping for a moonshot. Yet as the price of the token drifted down, down, down, and toward a reversion to the mean, this investor had to liquidate at a loss.

Seven hours ago, this whale divested from their entire position, recording a total loss of $590,000 for this round of trading. While not the first, this sell-off marks a significant and very recent event in the life of $TRUMP. The descent into just under $1 on a CEX in such a short time is a wonderment of the crypto world.

Although certain investors pulled out and made a profit before the market took a downturn, this particular whale was not one of them. From our trade analyzer, we can infer that this whale lost over $30 million, while some others managed to get out at a gain. Timing is absolutely everything in this market. Rapid price swings can really make or break you, and we’re pretty certain this whale got broken.

Another remarkable trading episode involved an investor functioning under the wallet address 2geJd…m49Aj. This trader made a daring move on January 28, laying out a near-$2.8 million sum to purchase 92,700 $TRUMP tokens during what looked like a recovery push. If anything, it was a moment for a potential short squeeze to play out. Still, this all felt a bit too good to be true, and the market action that followed only reinforced those sentiments.

Nonetheless, $TRUMP did not bounce back; its price kept falling. As the token’s value dropped even further, the investor finally threw in the towel and sold all their holdings. They did this seven hours ago. The average price at which they sold was $23.82. It’s hard to say what this trade alone did to their portfolio, but my guess is that it was a net negative. On the other hand, considering the overall position that this investor has in $TRUMP, they are still in the green.

This trader had previously taken advantage of swings in the price of $TRUMP. From three separate trading episodes, they had banked $7.44 million in profits. So, even though $TRUMP is presently on the downward slope, this trader is not. And, in fact, there’s a very good chance that they are riding out this present downslope in anticipation of a forthcoming price upswing.

$TRUMP token’s value sharp decline raises future trajectory questions. The all-time high to 69% drop reflects the broader market trend, where baseless rallies not only lead to hype but also result in major corrections. Many traders were poising for the continued growth of $TRUMP, only to watch it plummet. And headset holders in Virtual Realism are also wondering what happened to all that promise when they watch $TRUMP token tank.

The key role that whales have in moving prices and the common market perception that they provide insight into overall market sentiment make the recent obfuscation of their trades all the more concerning. If a major player is exiting at a loss, and is using obfuscation as cover while doing so, it’s hard to be confident that the short-term trajectory of the market is up.

The crypto space is still developing, and traders will continue to watch the price action of $TRUMP closely to see if the current downturn is just a blip on the radar or the beginning of a longer-term downtrend. The token’s sharp decline serves as a stark reminder that, while value can rise dramatically, it can also fall just as fast—and, in some cases, even faster.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: sodapeaw/123RF // Image Effects by Colorcinch

The post $TRUMP Token Plummets 69% from ATH, Major Whale Sells at a Loss appeared first on The Merkle News.