Blockchain tracking company Lookonchain claims a whale trader missed a $180 million profit by selling a new memecoin too early.
According to Lookonchain, trader “LeBron” sold over 4.5 million official Trump (TRUMP) at an average price of just $1 per coin before the digital asset soared into double digits, missing out on a massive profit at nine digits.
“LeBron sold 4.52 million TRUMP ($185 million) for US$4.52 million at an average price of $1, cashing out too early and missing out on a $180 million profit (at the time of writing of the report).
(Tuesday) he spent 2.5 million USDC to buy back TRUMP, but quickly sold for 2.43 million USDC, taking a loss of $67,000.
Lookonchain also notices that other crypto whale traders are missing out on big bargains by selling TRUMP early on.
“Did you sell TRUMP too soon?…
GoM5…eotR spent 500,000 USDC to buy 2.65 million TRUMP (currently $160 million) and sold it for $1.35 million USDC, missing out on a profit of $158.7 million.
5AS9…48Sm spent 1 million USDC to buy 2.64 million TRUMP (currently $159.7 million) and sold it for 2.36 million USDC, missing out on a profit of $157 million.
8RC6…wRXB spent 1,700 SOL ($372,000) to buy 1.79 million TRUMP (currently $108 million) and sold it for 3,544 SOL ($776,000), missing out on a profit of 107 million of dollars.
Finally, Lookonchain notes that four days after the launch of the TRUMP memecoin on the Solana (SOL) network, the issuer of the USDC stablecoin, Circle, minted 2.5 billion USDC on Solana, suggesting that the digital asset has created a frenzy of commercial activity.
TRUMP is trading at $38.74 at the time of writing, down 19.6% in the last 24 hours.
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