The crypto market’s sharp downturn Monday has hit the Official TRUMP ($TRUMP) token especially hard.
While the broader market wrestled with about a 10% drop, the TRUMP token plunged 18% in 24 hours, trading around $7.41 due to global financial turbulence linked to fresh tariffs and wider sell-offs.
Whale “traderpow” sold 309,514 $TRUMP($2.63M) at a loss of $14.06M 11 hours ago.https://t.co/sbXs9tkj1mhttps://t.co/jTHucvUQNk pic.twitter.com/vS2D5E61B9
— Lookonchain (@lookonchain) April 7, 2025
Why Did the TRUMP Token Crash Harder Than the Market?
The coin, still down roughly 90% from its January all-time high near $75, faced specific selling pressure on top of general market woes. On-chain data spotted by Lookonchain revealed a major whale, known as “traderpow,” dumped 309,514 $TRUMP (worth ~$2.63 million) just hours ago.
What’s striking is the loss: This whale, who previously pocketed $22.7 million profit on $TRUMP, sold this batch at a staggering $14.06 million loss. Such a move by a previously successful large holder can significantly sour market sentiment for the memecoin.
Is a Big Token Unlock Adding to the Worry?
Pressure on the TRUMP token might ramp up further soon. A significant token unlock is scheduled for April 18th, set to release 40 million TRUMP tokens from vesting.
At current prices, that’s about $360 million worth of potential new supply hitting the market, which could heavily weigh on the price.
TRUMP Token’s Fundamentals Questioned
Critics argue the TRUMP token’s value has always been too closely tied to Donald Trump’s political influence rather than strong fundamentals, suggesting earlier popularity was driven more by hype.
Reports note that even recent tweets from Trump himself haven’t sparked price jumps, leaving some investors frustrated.
Broader Market & Trump’s Comments
The wider market certainly isn’t helping the TRUMP token. Bitcoin dropped about 10% over the past day, dipping below $77,000 (briefly hitting ~$77,500) during volatility sparked by Trump’s tariff announcements.
Regarding the crash, President Trump stated, “I don’t want anything to go down. But sometimes you have to take medicine to fix something. We’re going to become a wealthy nation again, wealthy like never before.”
