- A whale sold 763,582 TRUMP for 9.48 million USDC just a few hours ago.
- Following this sale, the price of TRUMP crashed more than 13%.
- TRUMP RSI has entered oversold levels, suggesting a rebound soon.
The Official Trump (TRUMP) meme coin suffered a 13.53% drop in the past 24 hours after a whale dumped its entire holdings. This sell-off wiped out the whale’s previous gains and resulted in a significant personal loss, triggering heightened market volatility.
CoinMarketCap data shows TRUMP token trading at $13.12, and it has plummeted by 57.70% over the past 30 days. With a valuation of $2.59 billion, the Official Trump token ranks as the fourth-largest meme cryptocurrency.
Whale Dump Triggers Market Panic
According to blockchain analysis from Lookonchain, a whale offloaded 763,582 TRUMP tokens in one transaction for 9.48 million USDC, causing a staggering $24.4 million loss for the investor.
The whale had previously profited $11.8 million from TRUMP trading but reinvested $33.9 million into the token. Unfortunately, after holding the investment for a month, the whale liquidated its position, not only erasing prior gains but also incurring a net loss of $12.6 million from the original capital.
Related: Trump Token Airdrop — What It Means for Future Price Trends
Technical Analysis: What’s Next for TRUMP?
TRUMP is trading below its 20-day exponential moving average (EMA) of $13.08 on the 4-hour chart—a key resistance level. Failure to break above this EMA could signal continued bearish momentum.
The Relative Strength Index (RSI) on the 4-hour chart currently sits at 23.32, which is deep in the oversold territory (below 30). This suggests that TRUMP could be due for a short-term relief bounce. However, unless the RSI climbs back above 40, any upward movement might be short-lived.
Related: Coinbase CEO Sounds Alarm on Memecoin Market Scams
On the other hand, the recent sharp decline has expanded the Bollinger Bands, indicating increased volatility. The lower band has widened, which means further downside pressure is possible. Conversely, if TRUMP recaptures and holds above the 20-day EMA, a test of the mid-band level around $15.50 may occur.
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