Whale Investor Snaps Up $5M in Official Trump Coin After President's Remarks, Marking One of the Largest Purchases Since Launch

A mysterious whale investor snapped up $5 million worth of Official Trump TRUMP/USD memecoin minutes after President Donald Trump said he knew little about it, marking one of the largest purchases since the coin's launch. The transaction, which occurred just three minutes after Trump's remarks, raised eyebrows and sparked speculation about potential market manipulation.

The Kobeissi Letter, a capital markets commentator, drew attention to the suspicious dealings, noting that the coin fell over 33% three minutes after Trump's remarks. At the exact bottom, a wallet scooped up $5.09 million of the coin, which The Kobeissi Letter deemed as "one of the biggest single purchases" since the coin's launch. The subsequent purchase led to a quick recovery in the coin's value, netting the trader a profit of $2.4 million in just 14 minutes later.



This is unusual: At 6:00 PM ET, President Trump says "I don't know very much about it" regarding his memecoin, $TRUMP.3 minutes later, at 6:03 PM ET, $TRUMP fell over -33% and a wallet purchased $5.09 MILLION worth of it at the EXACT bottom.This is one of the biggest single purchases... — The Kobeissi Letter (@KobeissiLetter) January 21, 2025

The Kobeissi Letter called this development unusual. "Did someone know?" it said, alluding to insider training. The findings were drawn from analytics platform DEX Screener and independently verified by Benzinga. The team behind Trump's memecoin didn't immediately return a request for comment.

See Also: Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover Why It Matters: Trump appeared nonchalant when he was asked about the Solana SOL/USD-based memecoin during his first White House news conference. "I don't know much about it other than I launched it. I heard it was very successful. I haven't checked where is it today,” he said. However, when a journalist suggested that Trump had made "several billion dollars" from the venture, the president called it “peanuts.”

According to the coin's official website, entities linked to Trump’s family-owned conglomerate, The Trump Organization, control 80% of the coin’s supply. Price Action: At the time of writing, TRUMP was exchanging hands at $43.13, surging 20.53% in the last 24 hours, according to DEX Screener. Read Next: Trump’s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency

In conclusion, the whale investor's decision to purchase $5 million worth of Official Trump Coin minutes after President Trump's statement aligns with their overall investment strategy, focusing on capitalizing on short-term price movements and volatility in the cryptocurrency market. This significant purchase had a positive impact on the market dynamics and sentiment surrounding the coin, contributing to a quick recovery in its value. However, the transaction raised concerns about potential market manipulation, and the coin's long-term value and stability may be influenced by the president's lack of knowledge about the coin and the potential risks and opportunities it presents for investors.