Author: Bu Shuqing
Source: Wall Street Watch
On the second day of Trump's inauguration as the 47th President of the United States, related concept assets plummeted significantly. The stock price of Truth Social's parent company, Trump Media & Technology Group (TMTG), dropped 11% on Tuesday, and the so-called "Trump Coin" fell over 40% from its peak.
However, when asked on Tuesday afternoon local time, Trump said, “I know very little about it other than that I issued it. I’ve heard it’s very successful, I haven’t looked at it.” Following this statement, Trump Coin experienced a sharp decline but has since recovered some ground, still accumulating over 20% in the past 24 hours.
"Trump Coin" reached a historical high of $75.35 after its launch, while First Lady Melania Trump’s MeMe Coin also peaked at $13.73 on the same day. Despite both experiencing significant drops on Tuesday, early investors who bought in and sold near the highs still made considerable profits.
Early data from analysis firm Nansen indicated that as of noon on Monday, many of the largest Trump Coin holders (those who invested over $20 million) were selling off their Trump Coins for profit. Among them, one investor holding over $52 million in Trump Coin sold off their entire position, achieving a 91% return on investment.
Among the 15 largest holders, about 33% had completely exited their positions as of noon on Monday. The remaining holders sold off most of their holdings, but with smaller positions. An exception was a major shareholder with a $32 million position who had not yet sold.
According to Nansen's data, investors with returns exceeding 10,000% had varying position sizes, with the smallest being $1,400 and the largest nearly $2.4 million. The highest return holder nearly reached 19,000%, holding a position worth $270,000, and as of noon on Monday, still held 54% of their position.
While some made a fortune, others faced significant losses. One investor completely exited their position after a 36% loss, incurring over $3.5 million in losses, while another wallet was sold off after a 41% loss, resulting in nearly $2 million in losses.
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