The newly launched Official TRUMP memecoin has gained tremendous attention from crypto traders and is primed to see a greater substantial rally. Meanwhile, the BONK meme coin is also experiencing significant whale activity, as reported by Onchain Lens today.
Whale buys $2.59 million TRUMP and BONK
According to data shared by Onchain Lens, a whale has spent $2.17 million USDC and 634 Solana tokens worth $152,000 to buy 80 BONK coins.
Also, the whale spent 1,250 Solana coins worth $273,000 to buy 398,000 Official TRUMP tokens. Data further indicated the trader rebalanced his positions by selling 148,000 TRUMP tokens and bought 6,542 Solana coins worth $1.49 million. So far, he currently holds 250,000 Official TRUMP coins worth $6.4 million.
This increase in large-scale buying signals rising interest from big crypto holders, potentially highlighting a bullish outlook for Bonk and Official Trump meme coins.
Such robust whale buying activity happens because savvy traders are aware that the recent market slowdown seems to come to an end. Especially, big investors are purchasing the dip on meme coins, possibly expecting the beginning of a memecoin mega cycle. As a result, low-cap meme coins like Bonk and Official Trump are in high demand.
Analysts believe that the digital asset market could witness a strong rally in the coming weeks, particularly after Trump’s inauguration. That explains why large investors are buying when prices are still low; with Solana-based memecoins like Bonk and Official Trump experiencing massive interest from buyers.
Yesterday, a trader took advantage of the newly unveiled Trump token. He purchased 6 million Official TRUMP tokens for $1.1 million USDC. Within one hour and 30 minutes, his investments grew to $23 million. He sold small amounts and currently holds 5.43 million TRUMP coins in his wallet, with an unrealized profit of $20 million, as per data from Lookonchain.
Bonk and Trump price analysis
As the digital asset market shows recovery following the positive CPI index reported last week and the incoming US presidential swearing-in, the meme coin market is gaining attention. The sector’s market cap today hit $126 billion, an increase of 6.7% over yesterday.
Tokens like Official Trump and Bonk are gaining user interest due to their potential high returns, which explains why they are registering remarkable performance.
Today, Official TRUMP led the crypto market as the top performer with a tremendous 418.12% rise over the previous day. The meme coin witnessed a huge response on Friday, January 17, when President Donald Trump launched its official cryptocurrency, TRUMP. The meme coin, which was launched on the Solana blockchain, amazed the market with its massive popularity. It became the hottest topic in multiple social media channels. Within two hours of its launch, the token saw a huge 4,200% increase, which enabled it to hit a staggering $7.7 billion market cap.
Bonk was also one of the top performers in today’s crypto market with an incredible 6.7% increase. Its trading volume saw a 254.00% surge over yesterday, highlighting a recent increase in market activity. Over the past seven days, its price jumped 19.80%, indicating expanded positive influence.
