At present, January 19, 2024, whereas main cryptocurrencies appear to be struggling, Donald Trump’s newly launched meme coin, Official Trump (TRUMP), is making waves and gaining vital consideration from crypto fans. The potential cause behind this consideration is the TRUMP coin’s over 300% upside momentum and a publish made by President-elect Trump.
Crypto Whale Offered Total TRUMP Meme Coin
On January 18, 2024, following a publish on X (previously Twitter), the value of TRUMP started hovering. Noticing its potential for upside momentum, a crypto whale spent a major 12 million USDC to buy 860,895 TRUMP meme cash at a mean value of $13.94.
Nonetheless, as the value continued to rise considerably, the identical whale dumped their complete TRUMP holding at a mean value of $27.67, making a revenue of $11.8 million.
Including to this huge sell-off, a crypto skilled revealed on X that Trump’s staff has allegedly offered $500 million value of TRUMP tokens whereas retaining 85% of the entire provide.
TRUMP Worth Momentum
Regardless of this substantial dumping, TRUMP reached a excessive of $35. Nonetheless, on account of some profit-taking, the value now seems to be correcting. On the time of writing, the meme coin trades at $27.75, sustaining a major 330% achieve up to now 24 hours.
This vital value surge up to now 24 hours has persistently attracted new buyers and crypto giants, contributing to the continual value will increase the meme coin is experiencing.
With solely 200 million TRUMP of the entire 1 billion provide at the moment in circulation, issues are rising over the potential influence of future token releases. A major inflow of tokens into the market might result in value declines and corrections.
