Crypto Whales Dump TRUMP Tokens Amid Market Decline
By: Eliza Bennet
The cryptocurrency market witnessed a dramatic event recently as two major holders of the TRUMP token liquidated their positions, causing significant ripples in trading volumes and token value. On May 4, 2025, two large accounts, collectively offloading 765,128 TRUMP tokens for $8.58 million, resulted in a profound $2.34 million net loss. The drastic sell-off led to a sudden 10% drop in the token's price, falling from $12 to $10.50, according to CoinGecko. This prompted a heightened trading activity, and traders are now intently watching the market for further unexpected fluctuations.
The wallet identified as 3kjP9L sold 337,560 tokens for $3.80 million, incurring a loss of $1.38 million despite previously gaining $196,000 from the same token. Another whale, 7X6Vun, offloaded 427,568 tokens for $4.77 million, suffering a loss of $961k, although it previously pocketed a $732k profit. The decision to exit appears to have been driven by weak market signals, yet the timing proved costly. The substantial trading volume surge of nearly 80% to $15.3 million across platforms like Binance and KuCoin suggests market panic or overreactions from both sides.
TradingView data reveals that the TRUMP token's current price stands at $11.18, marking a 27% decline over the past week. It previously saw a spark in activity due to President Donald Trump's announcement of a special gala at his Washington Golf Club for TRUMP token holders. However, the subsequent sell-off has cast doubt over the token's recent momentum and the strength of investor sentiment.
The market volatility followed a broader context of uncertainty surrounding Trump's involvement with cryptocurrency assets. Despite Trump asserting that he is "not profiting" from the TRUMP memecoin in a recent NBC News interview, his financial portfolio suggests otherwise. A report by State Democracy Defenders Action claims that Trump's cryptocurrency assets, including investments in TRUMP and MELANIA meme coins, comprise a significant portion of his estimated $2.9 billion wealth. Amidst these developments, Trump plans to host a gala dinner for top TRUMP token holders, igniting political scrutiny and calls for impeachment.
