TRUMP meme coin is being dumped by whales, losing them millions

Following the latest developments, the Lookonchain crypto analysis platform spotted multiple transactions involving massive selloffs of the famous crypto asset.

Crypto whales are dumping TRUMP, the meme coin associated with the President of the United States of America. Following the latest developments, the Lookonchain crypto analysis platform spotted multiple transactions involving massive selloffs of the famous crypto asset.

Lookonchain’s latest post on X showed that two whales lost $2.34 million after selling 765,128 TRUMP worth $8.58 million. The first whale gained $196,000 from TRUMP purchases before selling 337,560 TRUMP for $3.81 million early Sunday morning, losing $1.38 million. Likewise, a second whale who profited $732,000 after buying TRUMP sold 427,568 units of the meme coin for $4.77 million, losing $961,000.

Summarizing the transactions shows the market wiped out all the whales’ previous gains besides extra losses of about $1.42 million. It highlights the meme coin’s declining fortunes after an initial hype, suggesting a loss of confidence from top holders who may be selling off the tokens to minimize their losses.

Notably, the crypto assets selloff extends to MELANIA, another meme coin associated with the Trump family. According to reports, Donald Trump’s wife, Melania, sold 9.99 million tokens named after her for $4.65 million through unilateral liquidity and DCA. The report suggests that Melania’s meme coin selloff is in exchange for SOL tokens, of which she has acquired 170,000 units worth over $23 million since March 16, 2025.

The reported selloffs highlight the recent declining fortunes of the associated meme coins, with TRUMP tumbling 16.85% within the last 24 hours, according to data from TradingView. TRUMP’s decline comes amid a notable retracement after the meme coin gained about 107% in the last week of April. The move suggested a potential recovery from an extended pullback in Q1 2025. However, the whales’ selloff has cast a shadow of doubt on the expected recovery, with TRUMP trading for $11.10 at the time of writing, per TradingView’s data.