$TRUMP Whales Dump Tokens, Triggering a 38% Plunge in the $MAGA Market Cap

Today, several significant $TRUMP token holders, or “whales,” capitalized on their investments, selling large amounts of the token for substantial profits.

Several major holders of the $TRUMP token, also known as "whales," have sold large amounts of the token for substantial profits, contributing to a sharp decline in the token's value.

The price of the $MAGA token has plummeted by 38% in the past 24 hours, bringing its market cap below $300 million.

One significant transaction saw the address 0x52C0 sell 171,842 $TRUMP for 414 ETH, valued at approximately $1.44 million, at a price of $8.38 per token in the past 24 hours.

This transaction resulted in a remarkable profit of around $3.7 million, representing a 1428% gain on the $TRUMP tokens.

Another notable transaction involved sighduck.eth, who sold 173,542 $TRUMP for 1.25 million USDC in a single trade eight hours ago.

This sale yielded a profit of $1.88 million, marking a 1500% increase on the initial investment in $TRUMP.

Furthermore, the address 0x35D1 sold 128,059 $TRUMP for 204 ETH, valued at approximately $703,600, in one trade two hours ago.

This transaction resulted in a profit of $648,000, representing a 1164% gain on the $TRUMP tokens.

Collectively, these major sales by key $TRUMP holders have played a role in the recent decline in the token's value.

The $MAGA token has experienced a drop in market cap, falling below the $300 million mark, indicating a loss of investor confidence and market stability.

Many $TRUMP whales sold $TRUMP for profits today!

0x52C0 sold 171,842 $TRUMP for 414 $ETH($1.44M) at $8.38 in the past 24 hours and made ~$3.7M(+1428%) on $TRUMP.

sighduck.eth sold 173,542 $TRUMP for 1.25M $USDC in one trade 8 hours ago and made… pic.twitter.com/9t5F1Qn6za

— Lookonchain (@lookonchain) June 18, 2024

As the cryptocurrency market adjusts to these large-scale sell-offs, it remains to be seen how the $TRUMP and $MAGA tokens will perform in the coming days.

The massive profits realized by these whales highlight the volatility and potential for significant gains in the crypto market, but also the risks and rapid fluctuations involved.

Investors will be keeping an eye on the situation to see if this trend continues or if new buyers enter the market to stabilize it.

News source：https://www.kdj.com/cryptocurrencies-news/articles/trump-whales-dump-tokens-triggering-plunge-maga-market-cap.html

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