On May 4, two whales sold the cryptocurrency of US President Donald Trump, OFFICIAL TRUMP (TRUMP), at a loss.
According to researchers, in April, the wealthy made a profit of $196,000 and $732,000 trading TRUMP. However, on Sunday they disposed of 765,128 tokens and lost $2.34 million. After deducting the previously earned profit, their loss amounted to $1.41 million.
OFFICIAL TRUMP began to rise sharply on April 23 after Trump announced that 220 leading investors in TRUMP would be able to have dinner with him on May 22. However, the bullish trend quickly fizzled out, and a descending trend followed, resulting in the meme coin depreciating by 32% from the peak recorded on April 26. Moreover, the price of the digital asset fluctuates within an expanding descending channel, so a bearish trend is likely to continue in the market, and the volatility of the coin's price will likely increase.
Possible change in the value of TRUMP
Among cryptocurrency traders, there is a reasonable opinion that OFFICIAL TRUMP will be dumped as soon as the names of the meme token holders who will meet with Donald are known. Given this fact, it can be assumed that the two whales preferred not to tempt fate and sold TRUMP on May 4, fearing an increase in the extent of losses due to the upcoming announcement of the dinner participants with the president.
