The Official Trump meme coin has collapsed to a record low as on-chain data show that the most profitable investors have exited.

Official Trump (TRUMP) price crashed to a low of $27 on Saturday, down by about 63% from its all-time high. This plunge has dropped its market cap from $14 billion to $5.3 billion.

Most TRUMP meme coin whales dumped the token

On-chain data reveals that, as with most meme coins, the biggest whales have exited their positions, leaving many retail traders holding the bag. 

Nansen data shows that the most profitable Official Trump investor made $53 million and has already sold all the tokens. The second investor made $52 million and has sold about 70% of his assets worth $44 millin.

The third investor made a profit of $42 million and has sold $30 million. He still holds tokens worth $12 million, possibly because he expects its price to rebound. The rest profitable investors have sold most of their tokens.

These sales happened because of the speed in which the token jumped before the inauguration. The liquidation was, therefore, because these investors understand that most meme coins crash after the initial frenzy ends. Besides, the token has no intrinsic value.

More data show that smart money investors, who are more sophisticated than retail investors basedon their experien

Go to Source to See Full Article
Author: Crispus Nyaga