Meme TRUMP And MELANIA Witness A Massive Sell-off: What Could This Mean?

Cryptocurrency whales are dumping TRUMP, the meme coin associated with the U.S. President. Following the latest developments, the cryptocurrency analysis platform Lookonchain has detected several transactions related to the massive sell-off of this famous cryptoasset. The latest post from Lookonchain on X shows that two whales lost $2.34 million after selling 765,128 TRUMP worth $8.58 million. The first whale made $196,000 from purchases of TRUMP before selling 337,560 TRUMP for $3.81 million early Sunday morning, losing $1.38 million. Similarly, a second whale made $732,000 after buying TRUMP and sold 427,568 meme coins for $4.77 million, losing $961,000.

A summary of the transactions shows that the market has wiped out all previous profits of the whales in addition to an extra loss of about $1.42 million. This highlights the decline of the meme coin after an initial pump, indicating that a loss of confidence from top holders may be leading them to sell their tokens to minimize their losses. Notably, the sell-off of cryptoassets has extended to MELANIA, another meme coin associated with the Trump family. According to reports, Donald Trump's wife, Melania, sold 9.99 million tokens named after her for $4.65 million through unilateral liquidity and DCA. The reports suggest that the sell-off of Melania's meme coin was in exchange for SOL tokens, of which she has purchased 170,000 units worth over $23 million since March 16, 2025.

The reported sell-offs highlight the recent decline of the meme coins involved, with TRUMP down 16.85% within the last 24 hours, according to data from TradingView. TRUMP's decline comes amid a notable pullback after the meme rose by about 107% in the last week of April. This move shows the possibility of recovery from a prolonged pullback in Q1 2025. However, the whale sell-off cast a shadow over doubts about the expected recovery, with TRUMP trading at $11.10 at the time of writing, according to TradingView data.