Blockchain tracking firm Lookonchain says one whale trader let slip through their hands a $180 million profit by selling a new memecoin too early.
According to Lookonchain, trader “LeBron” sold more than 4.5 million Official Trump (TRUMP) at an average price of just $1 per coin before the digital asset soared to double-digits, missing out on a massive nine-figure profit.
“LeBron sold 4.52 million TRUMP ($185 million) for 4.52 million USDC at an average price of $1, cashing out too early and missing a $180 million profit [at time of reporting].
[On Tuesday], he spent 2.5 million USDC to buy TRUMP again, but quickly sold for 2.43 million USDC, taking a $67,000 loss.”
Lookonchain also notices other crypto whale traders missing out on big windfalls by selling TRUMP early on as well.
“Did you sell TRUMP too early?…
GoM5…eotR spent 500,000 USDC to buy 2.65 million TRUMP ($160M currently) and sold for 1.35 million USDC, missing out on a $158.7 million profit.
5AS9…48Sm spent 1 million USDC to buy 2.64 million TRUMP ($159.7 million currently) and sold for 2.36 million USDC, missing out on a $157 million profit.
8RC6…wRXB spent 1,700 SOL ($372,000) to buy 1.79 million TRUMP ($108 million currently) and sold for 3,544 SOL ($776,000), missing out on a $107 million profit.”
Lastly, Lookonchain notes that four days after the TRUMP memecoin launched on the Solana (SOL) network, the issuer of the stablecoin USDC, Circle, minted 2.5 billion USDC on Solana, suggesting the digital asset created a frenzy of trading activity.
TRUMP is trading for $38.74 at time of writing, down 19.6% in the last 24 hours.
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