A crypto whale who previously made $108 million on the President Donald Trump-linked memecoin Official Trump (TRUMP) has been burnt trying to replicate his success.
On Monday, March 24, crypto smart money tracker Lookonchain reported that this whale, who had made $108 million from a $1 million investment in TRUMP at its launch, had lost $207,000 trying to trade the memecoin again over the weekend.
Specifically, the whale purchased over 400,000 TRUMP for $5 million only to exit the trade with just above $4.79 million an hour later.
The whale who once made ~$108M on $TRUMP lost $207K in just one hour yesterday.
He spent 5M $USDC to buy $TRUMP right after @realDonaldTrump posted “I LOVE $TRUMP,” then sold an hour later—taking a $207K loss.
This is the same whale who previously spent 1.09M $USDC to buy 5.97M… pic.twitter.com/uOAzhPgkVM
— Lookonchain (@lookonchain) March 24, 2025
The loss comes as the trader appeared to try to profit off an endorsement from the president on Sunday, March 23. In a Truth Social post on the day, Trump asserted that he loved the memecoin, adding that it was “The Greatest of them all!!!!!!!!!!!!!!”
The post sent the token 14% higher within an hour, from just below $11 to nearly $12.5. However, the rally was short-lived as the token fell to near $11 again two hours later.
The price action underscores the memecoin’s price struggles following its record launch. For context, at current prices, it is down 85% from its all-time high of $78.
Meanwhile, Trump’s shilling of his memecoin no doubt adds to the list of ethical concerns surrounding the project, which allocates control of 80% of the token supply, about 800 million coins, to the president, albeit with a three-year vesting schedule of roughly 24 million coins per month.