The post TRUMP meme coin exposes cracks in crypto’s equal access narrative appeared on BitcoinEthereumNews.com.

A TRUMP whale just made a killing, walking away with $11.87 million in profit after cashing out 637,000 tokens eight hours ago, according to on-chain data from Arkham Intelligence. The buyer had spent 3,000 SOL ($720K) to buy 637,000 TRUMP tokens just 28 minutes after the memecoin launched when it was only worth $1.14. Today, he flipped them for 55,000 SOL ($12.59M) at an average selling price of $19.76. His profit was 16.4 times what he initially invested. But here’s what stings, if he had sold at the peak price, he could have made $46.51 million. The $33.91 million difference is thanks to a market correction that has cut deep into the community’s trust. But he still made some pretty crazy profits, and while his timing (plus alleged insider knowledge) made him a fortune, the same can’t be said for late buyers, and there are hundreds of thousands of them. Trump’s announcement sent traders into a frenzy At night on January 17, then-President-elect Donald Trump dropped the news on TruthSocial to his 8 million followers that he was launching his very own meme coin. It came with an image of him, fist raised, taken after that failed assassination attempt in Butler, Pennsylvania last year. His caption was short and direct: “It’s time to celebrate everything we stand for: WINNING!” the self-proclaimed ‘crypto president’ said. Within minutes, chaos hit the crypto markets. Traders rushed to a platform called Meteora to get their hands on TRUMP. The token’s price surged past $70 that very same day, and its circulating market value climbed to nearly $15 billion. But before small-time investors could fully join the action, whales had already locked in large chunks of the supply. In the first hour, 21 whales (wallets holding at least 500,000 of the tokens) gobbled up a…

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Filed under: News - @ February 2, 2025 6:22 pm