US President Donald Trump Mentions Official Meme Coin $TRUMP
On Sunday night, US President Donald Trump unexpectedly referenced his official meme coin $TRUMP on his social media platform Truth Social, stating: “I love $TRUMP — so cool! The best!”
In response to Trump’s comments, the price of $TRUMP surged over 12% within half an hour, only to subsequently drop by approximately 8%.
On-chain data analytics platform Lookonchain noted that a whale, who had previously made substantial profits on Trump coins, spent $5 million to buy back into Trump coins after Trump’s post, but sold them just an hour later, incurring a loss of $207,000.
According to Lookonchain, this whale had previously spent $1.09 million in USDC stablecoin to purchase 5.97 million Trump coins, ultimately realizing a profit of about $108 million.
In January, two days before his presidential inauguration, Trump announced the launch of the official meme coin TRUMP, with the price skyrocketing from under $1 to over $70 within two days, turning it into a hundred-fold coin. However, the price of Trump coin experienced a decline of over 80% in the following two months, and as of the publication of this article, the trading price of $TRUMP was $11.85.
