- Two whale wallets liquidated $8.5M in TRUMP, erasing earlier profits and realizing over $2.3M in losses.
- A Solana-based parody TRUMP coin launched with airdrop rewards, adding confusion and risk to the original token’s brand.
- TRUMP’s price dropped 12.81% amid $932M in trading volume, driven by volatile whale exits and surging DEX activity.
Two major whale wallets offloaded over $8.5 million worth of TRUMP tokens at a loss early Saturday, sending shockwaves across Solana-based meme markets. Meanwhile, a separate Trump-themed parody coin launched pre-sale rewards to early adopters, adding to the confusion around the TRUMP ticker.
Whale Wallets Liquidate TRUMP at Multi-Million Dollar Losses
TRUMP’s price action was rocked after two large holders collectively sold 765,128 tokens valued at $8.58 million. The dump triggered a swift market correction, driving the token down to an intraday low of $7.14 before a modest recovery. In a report, it was noted that both wallets realized combined losses exceeding $2.34 million.
The wallet tagged as 3kjP9L previously booked $196K in profits but has now surrendered $1.38 million in a single liquidation. Similarly, 7X6Vun had earlier gained $732K but closed its position with a $961K loss. According to the report by Lookonchain, the two whales not only wiped out previous gains but also exited with $1.42 million in net principal losses.
Solana Parody Coin Launches Under Same TRUMP Ticker
A separate development signals another turning point for the TRUMP crypto ecosystem as a parody version of the token went live on Solana. Trump memecoin parody reported its official launch time as May 4, 15:00 UTC, promising up to 2 billion TRUMP coins in exchange for SOL contributions. Early participants are being rewarded via an airdrop, with 100,000 tokens sent to select wallets.
The token’s structure is meme-based with no disclosed asset backing, no third-party custodial service, and minimal smart contract audit transparency. The campaign’s strategic objective centers on speculative hype, leveraging the recognizable name for social virality. Stakeholders are also evaluating broader implications given the overlap in ticker symbol and public association with Trump’s official token.
Token Metrics, Exchange Volumes, and Network Interactions
The original TRUMP token is trading at $11.16, down 12.81% in the past 24 hours, with a market capitalization sitting at $2.23 billion. Trading volume surged to $932.91 million, representing a 37.12% spike in activity and a 41.86% volume-to-market-cap ratio. This volatility mirrors intensified exchange interactions involving major Solana DEXs like Meteora and Jupiter.
On-chain data shows the two whale wallets engaged in 17 high-value transactions over the past week, including token swaps, liquidity moves, and arbitrage between SolFi, Meteora, and various aggregator authorities. Industry analysts have also flagged notable concerns over the sustainability of these leveraged exits. Price resistance remains near $12.99, with buyers attempting to hold support above $11.
