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A few days after a report emerged that over 800,000 wallets holding the Trump meme coins may have been left holding the empty bag as profits evaded them, a crypto whale has bought $341M worth of the token, leaving the community wondering whether the whale will succeed when so many others stumbled.
According to a February 13 post on the social media X handle of a blockchain-based transaction tracker, the anonymous buyer moved over 20 million Trump meme coins worth a staggering amount of Twitter) reporting that a crypto whale had moved 20 million TRUMP meme coins, worth $341.9 million, from Binance.
Whales Betting Big in Trump Meme Coin
A report from on-chain analytics firm Coinglass shows that the Trump meme coin had recently experienced a 12% price surge and was trading slightly above the $16.38 mark by writing. However, before it slid back, the token had already made an intraday high of $18.00. Nonetheless, the positive outlook has been noticed by traders and investors, including the whale that just made that big purchase of 20 million Trump meme coins.
The most intriguing thing is that there is currently observable rising participation among traders and whales who could be betting big on the Trump meme coins, raising the question of whether they know something other market players are unaware of. Data from Coinglass shows that there has been a continuous outflow of the Trump meme coin from different exchanges, with only three days previously when exchanges experienced an inflow.
810,000 Investors Lost Money
The new development happened only a few days after crypto forensic firm Chainalysis, conducting a study on behalf of the New York Times, revealed that over 810,000 investors and mostly supporters of US President Donald Trump were left clutching on straw, losing over $2.025 billion after the popular token’s price took a nosedive. According to the popular publication, the total losses could have been higher, considering the analysis didn’t include figures from other leading marketplaces.
Pump and Dump Scheme
Lately, there has been a lot of chatter about whether there was a pump-and-dumps scheme surrounding the Trump meme coins and the entire meme coin segment. Pump and dump schemes are a sophisticated pattern where early buyers of a digital asset pump up the token’s price but later dump their holdings, and the less experienced, who join during a price rally, are left holding on to a worthless token. New York state regulators have recently warned consumers against rushing for crypto offerings, stating:
“Creators or their associates artificially inflate the price of the coins and then sell them rapidly at an inflated price, reaping substantial profits while causing the price to crash.”
Conclusion
The latest growing interest among investors and long-term holders is likely responsible for the 12% rally the Trump meme coins have attracted in the last 24 hours, showing a growing bullish sentiment. While regulators have previously suspected the possibility of a pump-and-dump scheme that could leave investors with a hole in their pockets, there’s no evidence to indicate that the Trump meme coin has had its price artificially inflated.
Frequently Asked Questions (FAQs)
What Is the Trump Memecoin?
Officially known as $TRUMP, the Trump meme coin is a cryptocurrency US President Donald Trump launched shortly before his 2025 inauguration.
How has the industry responded to $TRUMP?
Since meme coins derive their value from hype and are prone to pump-and-dump schemes, some industry players are worried that $ TRUMP’s association with the president could taint the crypto industry’s reputation.
Is there more than one $Trump?
There is only one $TRUMP coin; however, the first lady recently launched the $MELANIA meme coin.
Where can you buy the $Trump coin?
You can buy the Trump meme coin at gettrumpmemes.com.
References
Appendix Glossary to Key Terms
Crypto Whale: A person or entity that owns a large amount of cryptocurrency.
Meme coin: A digital currency inspired by literal memes or other cultural phenomena
Bullish sentiment: An optimistic outlook that prices will increase or the market will perform well.
Pump and Dump: A form of fraud that involves artificially inflating the price of an asset through false and misleading positive statements.
