Highlights
PolitiFi tokens TRUMP & MELANIA witnessed a considerable whale-dumping phenomenon amid a market crash on Tuesday. The latest whale data suggested that large-scale investors are dumping these tokens at over $14 million in losses. As a result, traders and investors speculate whether a recovery is even possible for the fallen-from-grace PolitiFi cryptocurrencies.
According to whale data revealed by Spotonchain on February 25, crypto whales sold the PolitiFi tokens despite their portfolios showcasing huge losses of over $14 million. Per the data, the whale “DNTpo” sold 13.98 million MELANIA tokens for 14.32 million USDC. This trade maneuver showcased a loss of $14.9 million (51%) in roughly a month.
Simultaneously, whale address “EwkH5” sold 763,483 TRUMP coins for 9.47 million USDC recently. This transaction play highlighted a loss of $25.5 million (72%) in roughly a month.
Overall, the selloff transactions underscore a waning market interest in the PolitiFi tokens, potentially triggered by the recent market volatility. CoinGape reported that the crypto market slumped this week amid massive liquidations and new developments involving U.S. import tariffs. Bitcoin price was recorded hitting a $90K low this Tuesday.
Simultaneously, the whales also dumped tokens amid a broader market crash despite holding tokens for just a month. TRUMP’s monthly price chart reflected a 59% crash. Also, MELANIA’s price slumped over 65% over the same duration. Crypto whales’ selloff comes primarily to avoid further losses, whilst it also signals a loss of confidence in their potential to pump ahead.
As of press time, MELANIA price was down 65% over the past day, reaching $0.9288. The token hit a bottom and peak of $0.9197 and $1.24 in the last 24 hours.
TRUMP price crashed 15% intraday, closing in at $12.80. The coin’s 24-hour low and high were $12.79 and $15.22, respectively.
Traders and investors remain bearish over the token’s long-term prospects in light of heightened whale dumps showcasing losses. Simultaneously, renowned market analyst ‘Vegeta’ took to X, revealing that the Republican President-themed coin may take a few more weeks to bottom.
However, the analyst adds that once this feat is achieved, a $30-$35 price target awaits. Nevertheless, market watchers can expect potential new lows subsequently, the analyst added. Also, TRUMP price prediction by CoinGape shows that the current market sentiment for the asset remains bearish. Market watchers expect further volatility in prices in the wake of recent trends and developments.
DeFi Dev Corp has announced the creation of Japan’s first Solana Treasury firm in partnership…
Over the past month, the Pi Network testnet has been actively testing the Protocol v23…
Bitwise Solana ETF (BSOL) is likely gearing up for launch this week as the issuer…
Canary Capital’s Trump Coin ETF has been listed on the Depository Trust & Clearing Corporation…
Polymarket founder Shayne Coplan has sparked speculation about a potential native token launch following a…
The FOMC minutes have signaled a dovish shift from the Fed officials, who look likely…