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A major cryptocurrency whale has made headlines after executing a massive transaction involving 743,000 TRUMP tokens, selling them for $7.92 million at a price of $10.66 per token. According to blockchain analytics firm LookOnChain, the whale’s sale resulted in a staggering $3.3 million loss.
This marks the third consecutive unsuccessful trade by the whale, bringing its total losses to $15.7 million. Initially, the investor had bought TRUMP tokens in hopes of profiting, but broader market volatility and declining sentiment in the memecoin sector have contributed to significant setbacks.
Market Impact and Investor Reactions
The whale’s large sell-off triggered a wave of fear among secondary holders, leading to further selling pressure that exacerbated TRUMP’s price decline. The token witnessed an 8% drop as it broke below its ascending triangle support level, signaling intensified bearish activity.
Currently, TRUMP is trading at $10.23, a level that suggests continued downward pressure. The breakdown below key support levels could see prices testing the $9.56 mark, a previously established demand zone.
Technical Analysis: What’s Next for TRUMP?
From a technical standpoint, TRUMP’s outlook remains bearish. The MACD histogram indicates worsening negative momentum, with the MACD line at -0.24 trading below the Signal line at -0.09, reinforcing the downward trend. Additionally, the Relative Strength Index (RSI) has dropped to 29.26, placing it in the oversold zone, which might suggest potential price stabilization if sellers fail to sustain their dominance.
A price failure at $10.23 could push TRUMP towards $9.56. On the flip side, if bullish momentum builds and TRUMP reclaims $10.80, it could challenge resistance levels at $11.20 and $12.50.
Exchange Activity and Market Sentiment
Spot inflows and outflows across exchanges highlight mixed sentiment. Binance led trading activity with $70.63 million in volume and positive net inflows of $148.45K in the last 12 hours. Bybit, OKX, Coinbase, and Kraken recorded lower volumes, with notable negative inflows, suggesting ongoing uncertainty in TRUMP’s price stability.
Also Read: Ethena (ENA) Faces Volatility: Trump-Linked Selloff and Token Unlocks Shake Market
With TRUMP’s price at a critical support level, the market remains on edge. Continued whale exits could push prices lower, while renewed investor interest and positive exchange inflows might stabilize the token. Investors should closely monitor price action and inflow trends to assess the memecoin’s next move.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
