Early Data Shows Who Is Buying, Holding, And Selling The Trump Memecoin

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• President Donald Trump launched a memecoin on Friday that captured traders' attention.
• Data from on-chain analytics platform Nansen shows what positions looked like on Inauguration Day.
• One exchange said the memecoin was the most successful token launch over 24 hours in exchange history.

President Donald Trump launched the $TRUMP memecoin on Friday night, January 17, just days before his presidential inauguration. While the coin has experienced significant volatility, its overall market cap went from $600 million to just over $7 billion as of Monday afternoon.

Early data from analytics firm Nansen shows that many of the largest investors who turned a profit from the memecoin have already sold off their holdings and realized gains, but some investors are continuing to hold large positions with unrealized gains as steep as 19,000%.

Many of the biggest Trump coin holders, those with more than $20 million invested, were selling off the coin and realizing gains as of Monday at noon.

An investor who held over $52 million of Trump coins at one point sold off the entire position with a 91% return on the investment.

Of the 15 largest holders by position size, about 33% had completely exited as of noon Monday. The remainder sold off most of their positions but maintained smaller exposure. The exception was one large holder with a $32 million dollar position that had yet to sell.

Investors who saw over 10,000% returns were varied in position size, with one holding as little $1,400 and the highest holding almost as much $2.4 million, according to data from Nansen. The holder who saw the highest gain at almost 19,000% had a position worth $270,000 and still held 54% of their position as of Monday noon.

There have also been some significant losers. One investor exited their position entirely after they were down by 36%, for a loss of over $3.5 million. Another wallet sold off after it was down 41% for a loss of almost $2 million.

Trump made significant overtures to the crypto community on the campaign trail, and has indicated he will loosen restrictions on the industry during his second term.

Outside exchanges and market makers, Nansen said the largest holders it could identify are names well-known within the crypto community, including Santiago R. Santos, and funds such as Master Ventures and Swissborg.

Mark Greenberg, Kraken's global head of consumer business, said that Trump's memecoin was the most successful token launch the exchange has seen within the first 24-hour period.

"While weekends typically see quieter trading activity, the launch of TRUMP just days before President Trump's inauguration has clearly captured the market's imagination," Greenberg said in a statement. "This success highlights the unique ability of memecoins to transform cultural moments into tradable assets, offering clients an opportunity to engage with and capitalize on these trends."

Some have been more dour about the Trump memecoin. Erik Vorhees, the founder of crypto exchange ShapeShift, called the Trump coin "stupid and embarrassing." Gabor Gurbacs, the founder of PointsVille, wrote "memecoins cost the US, the presidency and his family a lot of credibility and the consequences haven't even started."