- After losing $168,000 on the TRUMP meme coin, a crypto whale shifted strategy and invested $2 million into Fartcoin, a token that had previously made huge profits.
- On-chain data shows that traders show a pattern of high-risk, high-reward behavior.
A crypto trader recently made headlines after losing $168,000 on a high-risk bet on the TRUMP meme coin. Despite the huge loss, he decided not to back down and instead went back into the market, determined to recover and possibly profit from the crypto market.
According to data from Lookonchain, a crypto whale that lost about $168,600 trading Official Trump (TRUMP) meme coin is back in the market, but with a different approach. The wallet, which was tagged with the address 2WfeaM, has a history of risky trades with both wins and losses in the meme coin space. Previously, the whale placed two bets on Fartcoin and the presidential-themed token “TRUMP.”
Based on his trades, he made a profit of $368,500 from his Fartcoin investment and made a loss in Trump. With that, he decided to reinvest in Fartcoin instead of placing another bet on TRUMP.
The Crypto Trader’s New Strategy After Major TRUMP Loss
On the 10th of June, at around 8 AM UTC, the whale spent 2 million USDC to buy more Fartcoin, clearly avoiding purchasing TRUMP tokens this time.
Over the last 20 days, the data shows that the whale has consistently made huge bets on several memecoins. Some of the trades include not only Fartcoin and Official Trump but also Wrapped Solana (WSOL). Also, the wallet activity also showcased that the whale is a high-risk, high-reward investor.
The decision to steer clear of TRUMP just shows the lessons learned from the past loss. By reinvesting in tokens like Fartcoin, the trader seems to be focusing on coins that have previously brought gains.
TRUMP Market Performance
TRUMP token has continued to see a decline. As of the time of writing, the token is trading at about $10.69, and although it has a 0.7% increment, in the last 7-30 days the price significantly dropped
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