- Arkham: Wallets linked to TRUMP team sent $4.2M MET airdrop to OKX
- Transfers coincided with OKX listing, providing immediate exit liquidity
- Meteora (MET) price dropped more than 40% this week, testing key $0.50 support
Right before Meteora (MET) crashed approximately 40%, wallets linked to the TRUMP token team sent their newly received $4.2 million MET airdrop straight to the OKX exchange, according to Arkham Intelligence.
The data indicates these wallets, identified as belonging to a developer and early liquidity providers, moved the full allocation immediately upon receiving it, coinciding precisely with MET’s listing on OKX and suggesting an instant offload of the tokens.
Related: Trump Firm Plans $1 Billion Treasury to Buy and Hold $TRUMP Token
OKX Listing Provided Exit Liquidity as MET Price Tumbled 41%
The synchronized deposits from the TRUMP-linked wallets directly onto OKX as trading began raised immediate flags. Analysts noted that OKX’s rapid listing effectively served as an exit ramp for large airdrop holders, intensifying selling pressure and volatility in the MET/USDT pair’s opening hours.
Consequently, Meteora’s price has experienced notable downward pressure. The token has fallen nearly 41% over the past week, trading around $0.5320 at press time.
Market data from CoinMarketCap shows persistent selling since the $0.6904 resistance level rejection. The repeated failure to regain momentum above that range confirmed short-term bearish sentiment.
MET Price Analysis: Critical $0.50 Support Tested After Sell-Off
Despite the decline, the $0.55–$0.50 region now acts as a critical support zone where some traders anticipate price stabilization. A potential rebound could lift prices toward the $0.58–$0.60 band, representing short-term resistance. However, sustained weakness below $0.50 could extend the sell-off toward $0.45, marking a possible capitulation zone.
Significantly, market capitalization has dropped to $255.37 million, aligning with a sharp rise in 24-hour trading volume exceeding 148,000%. This unusual surge suggests speculative trades or large-scale profit-taking from early recipients. Moreover, the circulating supply of 480 million MET, out of a total one billion, reflects moderate liquidity but elevated volatility risk.
Related: TRUMP Token Volume Surges 50% as Trump Demands $230M From Justice Department
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