A Rogue Whale May Have Caused a 50% Decline in the Price of $TRUMP

Over the weekend, Trump's official memecoin (TRUMP) saw a sharp rise, only to witness a steep 50% drop caused by a single whale sell-off. This dramatic event has rocked the market, prompting many traders and analysts to question the nature of the sell-off and its broader implications. Revealing the impact of whales According to Bubblemaps, a blockchain analytics platform, whales are responsible for the significant price drop that occurred during the early accumulation of TRUMP tokens. The mentioned address strategically distributed their holdings across 10 new wallets after the initial accumulation, ultimately making a profit of $85 million while still retaining an additional $75 million worth of TRUMP. The sell-off was strategically timed, taking place immediately after Melania Trump's social media post, a highly notable moment in the market. This timing raises suspicions of coordination or involvement by seasoned meme traders, skilled in exploiting market exaggeration. The price action of TRUMP and the market reaction The whale dump caused TRUMP's price to plummet from over $72 to about $40, with even deeper losses in certain pairs. Despite the decline, TRUMP's price has partially recovered, supported by a new all-time high for Bitcoin, helping to revive market optimism. However, there are still concerns about the highly centralized nature of TRUMP. With 80% of the token supply still held in the team's main wallet, there are still significant questions about market manipulation and insider trading. The role of an intermediary wallet The related whale wallet has used the intermediate wallet, ff.sol, to manage its transactions. This wallet has distributed the TRUMP token to 10 addresses, most of which quickly liquidated their holdings. Interestingly, one of these wallets reinvested in another meme token, MELANIA, immediately after selling off its TRUMP holdings. A closer examination reveals that the original whale address was funded with USDC just before TRUMP's launch and had no prior history of meme token transactions. This lack of transaction history raises further suspicions about insider knowledge, as this wallet exhibits precise timing and uncommon selling behavior within the larger trading community.

Internal knowledge question The launch of TRUMP has raised questions about the possibility of insider information in the Solana ecosystem. The launch of this token did not comply with the usual pre-launch announcements, leaving many traders in the dark while others seemed to be ready to act immediately. A vanity address, meowthLT61GwsPZCfdRcNXwSDPp1p6bNRM7PRnYHw3z, suspected to belong to the founder of the Jupiter DEX aggregator, has shown early participation. This address also participated in HAWK transactions, another meme token, indicating a behavioral pattern among some individuals in Solana. Early Sniper Token's technical The wallets associated with TRUMP transactions initially used advanced techniques to secure tokens from the public. One method involves sending multiple unsuccessful transactions to a smart contract, ensuring early access when the tokens become available. Wallets like Shatter.sol, known for cutting and flipping meme tokens like BONK, are also related to TRUMP transactions. What does this mean for the future of TRUMP The fundamental focus of TRUMP and the involvement of experienced whales raise questions about the potential of this token as a community-driven asset. While its popularity as a meme token remains intact, the influence of large-scale traders and underlying internal activities could undermine its credibility. As the market develops, traders and investors must always be vigilant, analyze wallet activities, and understand the dynamics of meme token trading. Events around TRUMP serve as a cautionary tale about the risks and opportunities in the volatile cryptocurrency world.