The $TRUMP token recorded the sharpest single-day loss across major memecoins on Monday, falling by 11.13 percent in 24 hours. This steep drop came as the broader crypto market reeled from widespread sell-offs, driven by global economic concerns and newly announced U.S. tariffs.
While the total market saw an average 10 percent dip, the $TRUMP token dropped harder, trading around $7.73 by late Monday. According to on-chain data reported by Lookonchain, a major sell-off by a key whale investor intensified the fall.
Lookonchain reported that the whale, known as “traderpow,” offloaded 309,514 $TRUMP tokens worth approximately $2.63 million. This sale marked a massive $14.06 million loss, despite the same investor previously earning $22.7 million in profits on earlier trades with the token.
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Such a large transaction, especially from a whale with a successful track record, has reportedly shaken investor confidence. Market watchers say the move may have signaled a loss of faith in the token’s near-term prospects, triggering more selling across smaller holders.
Token Unlock Event Expected to Add More Selling Pressure
Adding to the downward pressure, a significant token unlock is scheduled for April 18. A total of 40 million $TRUMP tokens are set to be released from vesting, equivalent to nearly $360 million at current prices.
Analysts say this impending supply increase could further strain the token’s already weak price performance. Many investors are bracing for further volatility as the unlock date approaches.
The coin’s fundamentals have also come under fresh scrutiny. Critics argue the token relies more on Donald Trump’s political persona than any solid technical or utility backing.
Despite previous gains during Trump-related headlines, the token has failed to respond to recent social media activity from the former president. This lack of price reaction has left some holders disillusioned.
Meanwhile, Bitcoin also faced strong headwinds, falling below the $77,000 mark during the same trading window. The broader drop came shortly after Donald Trump remarked on tariffs and economic recovery during a press briefing.
Trump commented on the market correction, saying, “I don’t want anything to go down. But sometimes you have to take medicine to fix something.”
The $TRUMP token remains under pressure from both internal and external forces, including whale activity and an upcoming token release. With the broader crypto market also facing macroeconomic strain, the memecoin may continue struggling to regain lost ground.
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