A Crypto Whale Who Previously Made $108 Million on TRUMP Token Has Been Burnt Trying to Replicate His Success

The loss comes as the trader appeared to try to profit off an endorsement from the president on Sunday, March 23. In a Truth Social post on the day, Trump asserted that he loved the memecoin, adding that it was “The Greatest of them all!!!!!!!!!!!!!!”

A crypto whale who previously made $108 million on the President Donald Trump-linked memecoin Official Trump (TRUMP) has been burnt trying to replicate his success.

On Monday, March 24, crypto smart money tracker Lookonchain reported that this whale, who had made $108 million from a $1 million investment in TRUMP at its launch, had lost $207,000 trying to trade the memecoin again over the weekend.

Specifically, the whale purchased over 400,000 TRUMP for $5 million only to exit the trade with just above $4.79 million an hour later.

The loss comes as the trader appeared to try to profit off an endorsement from the president on Sunday, March 23. In a Truth Social post on the day, Trump asserted that he loved the memecoin, adding that it was "The Greatest of them all!!!!!!!!!!!!!!"

The post sent the token 14% higher within an hour, from just below $11 to nearly $12.5. However, the rally was short-lived as the token fell to near $11 again two hours later.

The price action underscores the memecoin's price struggles following its record launch. For context, at current prices, it is down 85% from its all-time high of $78.

Meanwhile, Trump's shilling of his memecoin no doubt adds to the list of ethical concerns surrounding the project, which allocates control of 80% of the token supply, about 800 million coins, to the president, albeit with a three-year vesting schedule of roughly 24 million coins per month.