Market Chaos Takes Toll On TRUMP Coin Price As 700K $TRUMP Whale Dumps 700K of Their Holdings For $7.58M

As the broader crypto markets turned into 50 shades of red this Friday, large-cap meme coins were among the heaviest hit.

In the broader crypto market, large-cap meme coins were heavily hit on Friday, as most of the top 100 crypto tokens fell into 50 shades of red.

The United States President-themed Official Trump (TRUMP) dropped to a two-month low.

It could be noted that Donald Trump’s actions, including a humongous 25% taxation on European Union and Canadian cars, began to take effect on the markets due to Mr. Trump’s hardly predictable regulatory stance.

Market Chaos Takes Toll On TRUMP Coin Price

Amidst the chaos, one of the largest TRUMP coin whales fell into a staggering $10.73 million deficit after panic selling 700K of his remaining TRUMP coin stash. Sold on Meteora’s decentralized market in the early hours of Friday, the crypto whale made $7.58 million, but that’s still $2.58 million short of his initial TRUMP coin investment, The Data Nerd estimates.

5 hours ago, this whale EwkH5 swapped 700k $TRUMP for $7.58M and suffered a loss $2.58M on this trade.Before it, this whale had multiple-trades on $TRUMP and suffered total loss ~ $10.73M.Address:https://t.co/vgnFUldSXB pic.twitter.com/0kFP1xvT6g

— The Data Nerd (@The_Data_Nerd) August 23, 2024

Moreover, this large meme coin player previously sold batches of TRUMP coins at a deficit before, totalling his all-time record to an eye-watering $10.73 million loss, according to records from Arkham Intelligence. Just today, Official Trump (TRUMP), the 57th crypto by global market cap, incurred a 8.5% deficit, totalling the monthly drawdown to 22.5%.

Trump’s Official Coin Slumps 86% From Peak

Notably, TRUMP coin plunged over 86% from the all-time peak of $73.43 on January 19, 2025, days before Trump returned to the Oval Office. With the current TRUMP price operating slightly below $10, meme coin investors should be on the lookout for a full retracement, which could send TRUMP coin to retest $5.

Meanwhile, other noteworthy PolitiFi meme coin tokens in this niche section flopped in similar percentages. Out of 9 most popular political satire tokens, 5 are Trump-themed, with Melania’s signature meme coin Melania Meme (MELANIA) coming second on the list by market cap, also dipping over 10% in a weekly time frame.