Whale Sells $TRUMP, Drops 13.5% In 24 Hours

The official (TRUMP) meme coin has dropped by 13.53% in the past 24 hours after a whale sold off all holdings. This sell-off has wiped out previous gains of the whale and resulted in significant personal losses, causing increased market volatility. CoinMarketCap data shows that the TRUMP token was trading at $13.12 and has plummeted 57.70% over the past 30 days. With a valuation of $2.59 billion, Trump's official token ranks as the fourth-largest meme cryptocurrency. According to blockchain analysis from Lookonchain, a whale sold 763,582 TRUMP tokens in one transaction for $9.48 million, causing a whopping $24.4 million loss for investors.

The whale had previously earned $11.8 million from the TRUMP transaction but reinvested $33.9 million into tokens. Unfortunately, after holding the investment for a month, the whale liquidated its position, not only wiping out previous profits but also incurring a net loss of $12.6 million from the initial capital. Technical Analysis: What Will Happen Next with $TRUMP? TRUMP is trading below the 20-day exponential moving average (EMA), which is at $13.08 on the 4-hour chart—a significant resistance level. Failing to surpass this EMA could signal further downward momentum. The (RSI) relative strength index on the 4-hour chart is currently at 23.32, deep in the oversold zone (below 30.). This indicates that TRUMP may have a short-term rebound. However, unless the RSI rises back above 40, any upward movement may only be temporary.

On the other hand, the recent sharp decline has widened the Bollinger Bands, indicating increased volatility. The lower band has expanded, meaning there may be additional downward pressure. Conversely, if TRUMP regains and holds above the 20-day EMA, a test of the middle band around $15.50 could occur.