TRUMP Token: Whale’s Massive Loss and Market Impact Could Affect Price Stability
TRUMP Token – A major whale in the cryptocurrency market made headlines after executing a massive transaction, selling 743,000 TRUMP tokens for $7.92 million at a price of $10.66 per token. However, LookOnChain’s analysis revealed that the sale led to a significant loss of $3.3 million for the whale. This marks the third unsuccessful sale, accumulating a total of $15.7 million in losses since the initial token purchase.
Market Impact and Fear Among Investors
The TRUMP token sale by this whale sparked fear in the market, especially among secondary holders, who rushed to sell off their tokens, causing a ripple effect that intensified the overall market decline. The broader price declines were also driven by market volatility, contributing to further selling pressure across the memecoin sector.
TRUMP Price Performance and Outlook
On the charts, TRUMP/USDT saw an 8% decline after breaking through its ascending triangle support level, signaling increased selling activity. The current price of $10.23 suggests a bearish continuation, as the breakdown occurred at key support levels. The MACD histogram confirms worsening negative momentum, with the MACD line at -0.24 below the Signal line at -0.09.
The price could face resistance at $9.56, a previous support level. If TRUMP fails to hold above $10.23, it may test $9.56 again, marking a potential demand zone. On the upside, recovery above $10.80 could challenge $11.20 and possibly $12.50, if bullish momentum reemerges.
Exchange Flows and Market Activity
Spot inflows and outflows have highlighted TRUMP’s activity across major cryptocurrency exchanges. Binance led with a substantial $70.63 million in volume and $148.45K in positive net inflows, signaling optimism. However, other exchanges like Bybit, OKX, Coinbase, and Kraken experienced negative inflows, with some seeing losses in the range of -$1.53 million to -$3.85 million.
The mixed market activity suggests that TRUMP’s price may remain uncertain, fluctuating based on the demand from exchanges and ongoing selling pressure.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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