TRUMP and MELANIA Tokens Drop 60% Post-Inauguration Amid $74M Whale Movements - Blockonomi
by Oliver Dale · BlockonomiTLDR
- TRUMP and MELANIA tokens crashed 40-60% post-inauguration despite massive trading volumes ($19B and $4.5B respectively)
- Major whale movements detected with $74.22M worth of TRUMP tokens being moved or sold
- Bitcoin dropped from $109,000 to $101,000 after Trump’s inauguration speech lacked crypto mentions
- All major Solana meme coins (BONK, WIF, MELANIA) experienced significant declines
- One whale named Ansem sold TRUMP tokens at a $2.55M loss
The cryptocurrency market experienced a sharp downturn in Trump-themed tokens following the presidential inauguration on Monday, with both TRUMP and MELANIA tokens plummeting by as much as 60% within 24 hours. The decline came despite these tokens generating unprecedented trading volumes in the days leading up to the event.
The TRUMP token, which launched on the Solana blockchain, saw trading volumes exceed $19 billion over a 24-hour period, surpassing many established cryptocurrencies. Similarly, the MELANIA token recorded $4.5 billion in trading activity, highlighting the intense speculation surrounding these presidential-themed digital assets.
TRUMP Price
Market data reveals that major cryptocurrency holders, known as “whales,” moved or sold substantial amounts of TRUMP tokens worth approximately $74.22 million following the inauguration ceremony. One notable transaction involved a wallet identified as “Ansem,” which sold 194,799 TRUMP tokens for $6.83 million, resulting in a $2.55 million loss from their initial investment.
Trading application Moonshot, one of the first platforms to offer TRUMP tokens, reported a dramatic decline in buying volumes. According to a Dune dashboard created by @Seoulcalibur.eth, daily trading volumes dropped from over $6 million between January 18-19 to just over $1 million in the following 24 hours.
The broader cryptocurrency market also felt the impact of the inauguration events. Bitcoin’s price fell from Monday’s high of $109,000 to approximately $101,000 during Asian trading hours, primarily attributed to Trump’s inaugural speech lacking any mention of cryptocurrency or the previously discussed strategic bitcoin reserve.
The downturn wasn’t limited to Trump-related tokens. Other popular Solana-based meme coins experienced similar declines. BONK decreased by 1.7%, while WIF dropped 5.4%. The MELANIA token suffered particularly heavy losses, falling 62.7% to $4.13.
These price movements occurred against the backdrop of increased scrutiny in the meme coin sector, partly due to recent concerns about pump-and-dump schemes. Reports of a $158 million rug pull involving a token called Cuba have heightened investor caution.
Despite the current market downturn, some trading platforms like Coingecko continue to signal buying opportunities for certain meme coins, including BONK and WIF. However, trading volumes across all major crypto exchanges indicate a cooling of interest in presidential-themed tokens.
The sell-off has particularly affected major meme coins beyond the Trump ecosystem. Dogecoin (DOGE), the leading meme cryptocurrency by market capitalization, experienced a 6.62% decline, trading at $0.3409. Similarly, SHIB saw a 9% decrease in value during the same period.
Coinbase’s recent decision to list TRUMP under its experimental category had initially generated additional market interest. However, this institutional support wasn’t enough to prevent the post-inauguration price decline.
Market observers noted that while TRUMP tokens gained over 440% since their launch, the recent whale movements suggest possible further selling pressure ahead. A second major transaction, reported by Whale Alert, showed an unknown wallet transferring 1,621,351 TRUMP tokens worth nearly $67.4 million to another anonymous wallet.
The decrease in trading activity follows a pattern observed on the Solana blockchain, where multiple meme coins have experienced declining values. MEW token dropped 7.1% during the same period, adding to the overall bearish sentiment in the meme coin market.
Trading data from multiple exchanges indicates that buying volumes have stalled across most Trump-related tokens, with sell orders dominating recent market activity. This trend marks a sharp reversal from the pre-inauguration trading frenzy.