Melania Trump's Token Price Soars Thanks to Bitcoin Whale

Happycoin.club - The token of US President Donald Trump's wife Melania Trump Official Melania Meme (MELANIA) has skyrocketed thanks to a giant bitcoin whale.

On March 16, a wealthy trader whose identity is still unknown opened a short position to buy $370 million worth of BTC using a massive 40x leverage. The same fat cat then went long by buying $2.5 million worth of MELANIA coins with 5X leverage.

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Crypto whale trades

The trader's trading operations caused serious disruptions in the MELANIA cryptocurrency market. First, its price rose sharply by 16%, and then just as quickly fell by more than 9%. The powerful amplitude of the meme token's rate fluctuations can be explained by the small trading volume, which amounted to $38 million over the past 24 hours. That is, the crypto whale accounted for 6.6% of the coins purchased.

MELANIA Rate Rise and Fall

The opening of these positions by the crypto whale means his forecast for a fall in the value of Bitcoin and an increase in the price of MELANIA. His short on BTC assumes profit-taking when the coin falls in price to $69,414 and $58,664, and the position will be liquidated if the cryptocurrency rises in price to $85,593 (by 2.2% from the current figure). The trader will close the long on MELANIA, on the contrary, in the event of a fall in the coin rate and will fix the profit if the memecoin rises significantly in price.