At its peak over the weekend, Trump’s official coin (TRUMP) seemed unstoppable, but it only took one whale sale to cause the first 50% drawdown. The address of the involved whale has already been marked for early purchase.
According to data shared by Bubblemaps, a single whale may have been the reason for Trump’s 50% pullback which sent ripples throughout the market. The on-chain analytics firm discovered one address involved in early accumulation before it split all of its holdings into 10 new wallets.
The wallet group has already made $85 million worth of gains, and still holds another $75 million worth of tokens. At this point, it is uncertain whether the buying and selling was coordinated, or was the usual activity of experienced snipers.
Big update:
Our trader sold $85 million and still has $75 million $Trump
It dropped its price right after Melania’s post, causing the price to drop by -50%. pic.twitter.com/b24gXVJ69R
– Bubble Maps (@bubblemaps) January 20, 2025
Selling could be the main reason Trump fell from over $72 to the $40 range, with a deeper decline in some trading pairs. It has recovered from a pullback as market optimism boosted Bitcoin (BTC) to a new all-time high.
Pisces’ wallet raises suspicions about internal activity
TRUMP is still a highly centralized token, with 80% of the supply still in the team’s main wallet. Bubblemaps has drawn attention to the possibility that some whales may have additional insider knowledge to snap up the unexpectedly released token.
The original sniping address sent all of Trump’s money to ff.sol As an intermediate wallet. From there, the tokens were distributed to 10 addresses, mostly liquidating their holdings. One of Titles She transferred her money to Melania shortly after it went into liquidation.
Initial Buyer’s address It was funded with USDC a few days ago, and has no previous history of trading memes. The intermediate portfolio was previously funded ff.solthen returned Trump to the original address, which continued the sale.
Activity from ff.sol It was pointed out early, even before it was realized that the TRUMP token was a legitimate asset.
At first, social media users thought it was Donald Trump’s social media hackedWhich is not unusual. However, early token hacks and known wallet trust within the Solana ecosystem became early indicators of token information.
Following the launch of TRUMP, the wallet showed increased activity, benefiting from the new trend of PolitiFi related tokens. The portfolio moved to TRUTH, FIGHT and VOX POPULI, but not with a plan to hold them long term. Instead, the whale was bought early and sold for USDC, moving on to the next launch.
The whale’s behavior sparked speculation about insider knowledge, due to the willingness to snipe the token a minute after it was launched. The presence of active commercial whales tests Trump’s status as a potential cult figure, which society mostly maintains.
Alternatively, Trump’s price action may feel the impact of broad portfolio trading quickly. Some of the Trump funds received by the early buyer wallet were sent to addresses with a track record of flipping tokens from past trends. All portfolios listed by Bubblemaps have different selling strategies and have achieved varied final results when locking in profits.
Did Solana’s insiders know about Trump’s intentions?
Trump’s launch did not go through the usual channels and may have been planned for some time. This led to suspicion that representatives of the Solana ecosystem were aware of the launch and even deployment of the smart contract for the token.
One early headline circulating by Trump had a string suggesting it might belong to a Solana insider. The privileged address, listed as meowthLT61GwsPZCfdRcNXwSDPp1p6bNRM7PRnYHw3z, was suspected It belongs to the founder of Jupiter DEX pool, @weremeow. The same title was also associated with HAWK sniping, a Hayley Welsh meme.
Other wallets like Shatter.sol also made significant unrealized profits from early Trump sniping. They were also linked to the initial trading of HAWK. both of them shatter.sol and goofyaahh.sol It is suspected that they are owned by the same controlling person ff.solIt is associated with a merchant or group of merchants.
the shatter.sol The wallet has been known to send funds to new Solana addresses with the aim of stealing tokens shortly after launch. previously, shatter.sol He also sniped and sold BONK.
Some of the techniques used to get coins early were to send several failed transactions to the node, to ensure that an early purchase could be made.
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