This Crypto Investor Got Burned by TRUMP and MELANIA Meme Coin Crash
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- A trader lost $7.08 million on his investments in TRUMP and MELANIA meme coins.
- A single insider wallet is suspected to have caused a 50%-60% price crash in TRUMP alone.
- Donald Trump and his team were accused of orchestrating a pump and dump scheme.
Donald Trump’s team launched two meme coins, Official Trump (TRUMP) and Official Melania Meme (MELANIA), only to see their prices crash shortly after debut.
The coins initially surged, with TRUMP and MELANIA reaching high valuations before losing 43.31% and 64% of their value within 24 hours, respectively. Critics have accused Trump’s team of running a pump-and-dump scheme, using investor funds as exit liquidity ahead of Inauguration Day.
Related: Robinhood Lists TRUMP Token: Here’s What Happened Next
Whale Takes Heavy Loss on TRUMP and MELANIA Tokens
Not all investors profited from the launch of TRUMP and MELANIA. According to on-chain analyst The Data Nerd, a whale spent $9.5 million to acquire 187.36K TRUMP tokens at an average price of $58.03.
The post This Crypto Investor Got Burned by TRUMP and MELANIA Meme Coin Crash appeared first on Coin Edition.
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