Trump Meme Coin Plunges 13.53% After Whale's $24.4M Sell-Off

The Official Trump (TRUMP) meme coin experienced a significant drop of 13.53% in the past 24 hours, following a large sell-off by a whale investor. This dump wiped out the whale's previous gains and resulted in a substantial personal loss, triggering heightened market volatility.

According to blockchain analysis, 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.

Technical analysis suggests that TRUMP is trading below its 20-day exponential moving average (EMA) of $13.08 on the 4-hour chart, indicating 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.

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.