Hapless TRUMP Coin Whale Back On Board With $5.2M Buy
The market cycle’s FOMO is tackling seasonal heights, as some major players, popularly known as crypto whales, have applied a buy high sell low strategy on their investments. Just a few days back, blockchain intelligence platforms rang the alarm about one TRUMP coin whale selling a hefty amount of the United States President-flavored meme coin.
TRUMP Coin Whale Caves In To FOMO
5 days ago, one major Official Trump (TRUMP) investor sold off all of their 630,339 TRUMP coins for $5.48 million, at an approximate price of $8.7. The mistimed deed resulted in a $4.5 million deficit in unreleased gains, as per LookOnChain stats. On a brighter note, the trader still made an all-time profit of $483K, but what happened next has caught market watchers off guard.
The crypto whale in question came back with a larger appetite after missing out on Donald Trump’s memecoin fan dinner announcement, which has boosted the PolitiFi coin 88% in a week to regain the $15 mark. A few days after prematurely selling off all of their TRUMP coins, the same crypto wallet stormed back in to buy 337K tokens back at $15.39.
Sponsored
The spotted crypto whale acquisition happened nearly at the 7-day high for TRUMP coin, which topped at $15.47 on Monday, now trading 14 cents below the milestone. At present, this TRUMP coin believer is down 3.38% on their holdings, valued at $4.93 million, according to real-time stats from blockchain analytics platform Arkham Intelligence.
On The Flipside
- On the technical side, indicators like the Chaikin Money Flow (CMF) hinted at growing buying sentiment among large investors, hovering well above zero.
- Additionally, the Stochastic Relative Strength Index (StochRSI) constituted a clearly oversold position as the TRUMP coin was changing hands at $14.62.
Why This Matters
Tracing multi-million movements of large crypto players, otherwise known as whales, portrays the psychological side behind crypto trading. In this case, fear of missing out (FOMO) might have resulted in a spontaneous decision, despite several on-chain signals pointing to the bullish direction.
Discover DailyCoin’s popular crypto news:
Monero (XMR) Sparks Up 50% Price Rally For A Shocking Reason
HTX Drops Pi Coin Listing Clues: Pi Price Rally Building Up?
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Whale Makes Bold $ETH Move After $30M Profit
After banking $30M from ETH, a smart whale buys back at a higher price. Is another win in the making?A Surprising Re-EntryWhat’s Next for Ethereum?
PayPal Brings PYUSD Stablecoin to Stellar Network
PayPal expands its PYUSD stablecoin to Stellar, adding to Ethereum and Solana options for faster and cheaper transactions.Why Stellar? Speed, Cost, and AccessibilityStrengthening PYUSD’s Role in Web3
Scott Bessent Backs T-Bill Stablecoins for USD Growth
Treasury Sec. Bessent sees T-bill-backed stablecoins as key to expanding USD use globally.Why T-Bill-Backed Stablecoins MatterA $2 Trillion Opportunity — And Growing
BlackRock Buys 58K ETH in Major ETF Move
BlackRock spot ETF acquired 58,100 ETH worth $163.6M on June 11, signaling strong institutional confidence in EthereumWhy This Matters for EthereumWhat’s Next for the Market?
Trending news
MoreCrypto prices
More
