Cryptocurrency whales are offloading TRUMP, the meme coin linked to the President of the United States. Following recent developments, the cryptocurrency analysis platform Lookonchain has detected several transactions related to the massive sell-off of this famous cryptocurrency asset.
The latest post from Lookonchain on X shows that two whales lost $2.34 million after selling 765,128 TRUMP worth $8.58 million. The first whale made $196,000 from previous TRUMP purchases before selling 337,560 TRUMP for $3.81 million early Sunday morning, incurring a loss of $1.38 million. Similarly, a second whale made $732,000 after purchasing TRUMP and then sold 427,568 units of the meme coin for $4.77 million, incurring a loss of $961,000.
Transaction summaries show that the market has wiped out all previous gains of the whales, in addition to an extra loss of about $1.42 million. This highlights the decline of the meme coin following an initial pump, suggesting that the loss of confidence from top holders may be leading them to sell off tokens to mitigate their losses.
Notably, the cryptocurrency sell-off extended to MELANIA, another meme coin associated with the Trump family. According to reports, Donald Trump's wife, Melania, sold 9.99 million tokens named after her for $4.65 million through unilateral liquidity and DCA. The report suggests that Melania's sell-off of the meme coin was in exchange for SOL tokens, in which she purchased 170,000 units worth over $23 million since March 16, 2025.
The reported sell-offs highlight the recent decline of related meme coins, with TRUMP down 16.85% in the past 24 hours, according to data from TradingView. The decline of TRUMP comes amidst a notable pullback after this meme coin surged about 107% in the last week of April. This move indicates a potential recovery following a prolonged pullback in Q1 2025. However, the whale sell-off has cast doubt on the anticipated recovery, with TRUMP trading at $11.10 at the time of writing, according to TradingView data.