A trader’s actions planted doubts on Tuesday after they bought over $5 million worth of Official Trump (CRYPTO: TRUMP) memecoin at the bottom just minutes after President Donald Trump said he knows little about it.
What Happened: In an X post, capital markets commentator The Kobeissi Letter drew attention to suspicious dealings shortly after Trump made his first public statement on his official coin.
The post noted that TRUMP fell over 33% three minutes after Trump’s remarks. At the exact bottom, a wallet scooped $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 $2.4 …Full story available on Benzinga.com
Whale Investor Snaps Up $5 Million In Official Trump Coin Minutes After President Says, ‘I Don’t Know Much About It,’ Marking One Of The Largest Purchases Since Launch
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