2 weeks Ago By Aniket Verma
A trader missed making millions in profit due to the premature selling of Official Trump TRUMP/USD tokens ahead of a bullish announcement on Wednesday. What Happened: The investor sold all their 630,339 TRUMP, worth $5.48 million, just before the announcement of an exclusive dinner date with President Donald Trump for the token’s biggest holders, according to Lookonchain.
The trader offloaded the tokens at $8.7 each, making a profit of around $483,000. However, had the trader waited until the announcement, his profit would have been over $4.
5 million. What a sad story! This guy dumped all 630,339 $TRUMP ($5.48M) just before the #Trump dinner news.
If he had been more patient, his profit would have been over $4.5M. https://t.
co/mwWGMYi7eH pic.twitter.com/Mgh1ZaT8dQ Meanwhile, frantic trading activity was observed for the high-profile token.
A whale investor bought $5 million worth of TRUMP as the price began to rise and sold it all in less than 30 minutes for $5.73 million, netting $731,800. A whale just spent 5M $USDC to buy 407,467 $TRUMP at $12.
27 after the news of the $TRUMP Dinner. https://t.co/uhuZdkloOD pic.
twitter.com/3o0XQEDn0x See Also: Floki Surges 32% In 7 Days, Outpaces Dogecoin & Shiba Inu: What Is Going On? Why It Matters: The dinner, scheduled for May 22 , is to be held at Trump National Golf Club in Washington, D.C.
, and is limited to the top 220 holders of the TRUMP token. The top holders will also be able to attend a VIP reception and tour the White House, as well as receive limited-edition commemorative non-fungible tokens on the Solana SOL/USD chain. The memecoin surged as much as 65% on the news before tapering by late evening.
The team behind the token clarified that Trump will be a guest at the event but will not be involved in fundraising or investment solicitation. Price Action : At the time of writing, TRUMP was exchanging hands at $12.64, up 37% in the last 24 hours, according to data from Benzinga Pro .
It rose to become the fourth-largest meme coin by market capitalization. Photo Courtesy: Jonah Elkowitz on Shutterstock.com Read Next: $5,000 Calling: Will Pectra Lift Ethereum To Its Next All-time High? Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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