PolitiFi tokens TRUMP & MELANIA witnessed a considerable whale-dumping phenomenon amid a market crash on Tuesday. The latest whale data suggested that large-scale investors are dumping these tokens at over $14 million in losses. As a result, traders and investors speculate whether a recovery is even possible for the fallen-from-grace PolitiFi cryptocurrencies.
Whales Dump TRUMP & MELANIA With Over $14M In Losses
According to whale data revealed by Spotonchain on February 25, crypto whales sold the PolitiFi tokens despite their portfolios showcasing huge losses of over $14 million. Per the data, the whale “DNTpo” sold 13.98 million MELANIA tokens for 14.32 million USDC. This trade maneuver showcased a loss of $14.9 million (51%) in roughly a month.
Simultaneously, whale address “EwkH5” sold 763,483 TRUMP coins for 9.47 million USDC recently. This transaction play highlighted a loss of $25.5 million (72%) in roughly a month.
Why Are The Whales Selling?
Overall, the selloff transactions underscore a waning market interest in the PolitiFi tokens, potentially triggered by the recent market volatility. CoinGape reported that the crypto market slumped this week amid massive liquidations and new developments involving U.S. import tariffs. Bitcoin price was recorded hitting a $90K low this Tuesday.
Simultaneously, the whales also dumped tokens amid a broader market crash despite holding tokens for just a month. TRUMP’s monthly price chart reflected a 59% crash. Also, MELANIA’s price slumped over 65% over the same duration. Crypto whales’ selloff comes primarily to avoid further losses, whilst it also signals a loss of confidence in their potential to pump ahead.
How Are The PolitiFi Coins Currently Performing?
As of press time, MELANIA price was down 65% over the past day, reaching $0.9288. The token hit a bottom and peak of $0.9197 and $1.24 in the last 24 hours.
TRUMP price crashed 15% intraday, closing in at $12.80. The coin’s 24-hour low and high were $12.79 and $15.22, respectively.
Traders and investors remain bearish over the token’s long-term prospects in light of heightened whale dumps showcasing losses. Simultaneously, renowned market analyst ‘Vegeta’ took to X, revealing that the Republican President-themed coin may take a few more weeks to bottom.
However, the analyst adds that once this feat is achieved, a $30-$35 price target awaits. Nevertheless, market watchers can expect potential new lows subsequently, the analyst added. Also, TRUMP price prediction by CoinGape shows that the current market sentiment for the asset remains bearish. Market watchers expect further volatility in prices in the wake of recent trends and developments.
The post TRUMP & MELANIA Whale Dumps Heavy Amid Market Crash, Is PolitiFi Frenzy Over? appeared first on CoinGape.
