Crypto trader just lost $3 million on Official TRUMP

Despite being seen as the pro-crypto candidate of the 2024 election, thus far, Donald Trump’s second presidency has had its fair share of controversies regarding the cryptocurrency market . Perhaps the most significant of these was the launch of Official TRUMP ( Trump ), the president’s very own meme coin . Released on January 17, just days before the inauguration, TRUMP quickly skyrocketed , reaching an all-time high (ATH) price of $44.28 per token on January 21, as well as a market capitalization of roughly $14.7 billion. The frenzy was short-lived. By the end of January, Official TRUMP was changing hands at a price of $24.05, and has been on a steady downward trajectory ever since. At press time on March 28, the president’s meme coin was trading at a price of $10.18. TRUMP price all-time chart. Source: Finbold Back in early February, Finbold reported on the huge losses accrued by one cryptocurrency whale who decided to bet on Official TRUMP. His initial $12 million investment shot up to $23.8 million in value, leaving him with a tidy $11.8 million profit. Unfortunately for him, he doubled down, spent $33.9 million to open a new position, and then closed it once it had dropped to $12.85 million in value. This $21 million loss brought his total losses to $10 million. That same trader opened a new position on March 3, having bought 777,684 TRUMP, according to Lookonchain . This whale made $11.82M on his first $TRUMP trade, lost $24.35M on the second, and took another $201K loss on the third! Now, he's back—spending $11.28M to buy 777,684 $TRUMP at $14.50. Will he turn a profit this time? https://t.co/udjuLMtcUH pic.twitter.com/s8TGHdDH95 — Lookonchain (@lookonchain) March 3, 2025 On March 28, he liquidated this position, and once again accrued millions of dollars worth of losses. Whale’s Official TRUMP losses now stand at approximately $13.35 million The latest trade, which took place at a price of $14.50 per token, was valued at roughly $11.27 million at the time of acquisition. Data retrieved by Finbold from Solscan indicates that most of the wallet’s Official TRUMP holdings were sold off through a series of transactions roughly 10 hours before the time of publication. Crypto whale’s Official TRUMP liquidations. Source: Solscan In total, the trader managed to offload 743,947 TRUMP for a total price of $7.92 million. With the sale concluded, the whale in question has lost another $3.35 million on the meme coin — bringing his total losses to roughly $13.35 million since mid-January. Featured image via Shutterstock The post Crypto trader just lost $3 million on Official TRUMP appeared first on Finbold .