Over the weekend, Trump’s main meme coin (TRUMP) saw a sharp spike, only to see a massive 50% drop due to a single whale sale. The controversial event sent shockwaves through the entire market, prompting many traders and analysts to question the nature of the crowdsale and its broader implications. The whale effect revealed that the whale responsible for the sharp price drop was involved in an early TRUMP token pooling operation, according to Bubblemaps, an on-chain analytics platform. The address in question distributed its holding strategies to 10 new wallets after the initial pooling, and together they collected $85 million in profits while retaining an additional $75 million worth of TRUMP tokens. The round of selling was strategically timed to coincide with Melania Trump’s social media post, a moment when she would have been most likely to attract market attention. This timing has raised doubts about the coordination or involvement of expert meme traders, who are adept at exploiting market power. Trump’s Action Price and Market Response TRUMP price dropped sharply from over $72 to around $40 due to whale selling, and even lost more in some specific pairs. Despite the drop, TRUMP price recovered some, supported by a new all-time high in Bitcoin, which helped revive optimism in the market.However, there are ongoing concerns about the centralized nature of TRUMP. With 80% of the private token supply still held in the team’s main wallet, questions of market manipulation and insider trading remain very high. The Role of the Intermediary Wallet A connected whale actually used an intermediary wallet, ff.sol, to manage its transactions. This wallet distributed TRUMP to 10 addresses, most of which quickly sold their holdings. Interestingly, one of these wallets reinvested a portion of its TRUMP holdings into another meme token, MELANIA, immediately after selling all of its TRUMP holdings. Closer examination suggests that the whale’s original address was funded with USDC just before TRUMP launched, and had no trading history of the meme token prior to that. This lack of trading history raises questions about insider knowledge, as this wallet exhibits precise timing and strategic selling behavior that is uncommon in the large trading community.
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