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The cryptocurrency space is well familiar with price swings gone mad, but token traders of MELANIA are witnessing vicious losses. Based on Lookonchain, big MELANIA investors have been left reeling from massive multimillion-dollar losses over the past few days, with the community stunned.
A Costly Bet Gone Wrong
One whale specifically took a huge risk on MELANIA. A month back, they invested 30 million USDC to buy 13.97 million MELANIA tokens. But with the market experiencing a decline, they had to sell their positions for only 14.32 million USDC, which translates to a whopping $15.68 million loss.
Another large trader also suffered significant losses. This investor purchased 6.69 million MELANIA tokens for 10 million USDC in early February, then sold them for 6.27 million USDC at the end of the month. This transaction cost this investor a $3.73 million loss.
What Caused the MELANIA Token Crash?
There are a number of factors that may have led to MELANIA’s price crash:
Market Volatility: Crypto assets tend to experience high price fluctuations because of speculation and illiquidity.
Whale Sell-Offs: Sales by whales on a large scale can lead to panic selling, further reducing prices.
Project-Specific Concerns: Investors may have lost faith in the MELANIA token, which resulted in an accelerated fall.
The Aftermath and Market Sentiment
These losses are a warning to investors in the volatile world of cryptocurrency. Some traders might view an opportunity to purchase at a discount, but others are wondering if MELANIA can bounce back.
MELANIA token holders are on pins and needles for the time being, waiting for some indication of stabilization. Will this be a temporary loss, or is MELANIA going down further? Only time will tell.
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