Whales collect TRUMP as token price drops 40%

As the TRUMP token drops 40%, big investors are stepping in, apparently betting on a possible rebound.

Official Trump (TRUMP), a meme coin launched by President Donald Trump on Solana, has seen a dramatic price drop following Trump's inauguration. In the last 24 hours, the price has plummeted from $74 to just $38, causing some investors to panic.

While it is still unclear why the token fell so sharply, some are linking it to unmet expectations surrounding Trump's inauguration speech. On Monday, January 20, cryptocurrency traders were hoping for some crypto-related news, but were disappointed when Trump did not mention cryptocurrencies at all during his 30-minute speech.

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Although the price continues to fall, some big players are taking advantage of the drop. According to lmk.fun, a platform that tracks major movements on the Solana chain, whales are jumping in and buying TRUMP at lower prices, as these investors are apparently betting that the token has long-term potential.

“Several whales are buying the $TRUMP dip! Two hours ago, a whale spent $7.06 million to buy $207.87 thousand TRUMP at $34. Another whale spent $3.167 million to buy $99.53 thousand from TRUMP at $31.8,” the platform says. <a target="_blank" href="https://x.com/lmkfun/status/1881607206615044340″ target=”_blank” rel=”nofollow”>said in a post

TRUMP has been one of the most volatile tokens in the meme coin world, rising thousands of percent in a short period of time. At one point, the token's market cap skyrocketed to $31 billion, surpassing Cardano (ADA), TRON (TRX), bitcoin Cash (BCH), and more.