TRUMP Token Plummets 90% Amid Team Withdrawals, Sell Orders

US President Donald Trump’s namesake meme token, TRUMP, has experienced a significant decline, dropping nearly 90% from its all-time high reached six months ago. Currently, TRUMP is trading at $8.80, reflecting a 6% decrease over the past week. This downturn has left traders on edge, particularly after the project’s team withdrew $4.4 million in USDC from liquidity pools and a major investor placed a $2.5 million sell order.

The team’s decision to remove $4.4 million worth of USDC and 347,438 TRUMP tokens, valued at $3.12 million, from the main liquidity pool into a new wallet has raised concerns among investors. This move was made without any prior announcement or clear explanation, leading many to speculate that the team might be preparing to sell off their holdings, which could further depress the token’s price.

Adding to the uncertainty, a significant wallet identified as Kewh32 has listed 275,672 TRUMP tokens for sale, valued at approximately $2.5 million at current prices. This wallet had previously sold 100,000 tokens in June and still holds 369,400 coins. The potential influx of these tokens into the market could exert additional downward pressure on the token’s value.

Technical analysis of TRUMP’s price pattern on the daily chart reveals a falling wedge formation, which typically suggests a potential breakout. However, the current weak trading volumes and the relative strength index (RSI) remaining below 50 for over a month indicate that sellers are still in control. The Awesome Oscillator has recently turned green, albeit still below zero, hinting at a possible easing of bearish momentum.

Investors are closely monitoring the $8 to $9 price range, as a failure to maintain support above $8 could lead to further declines. The lack of strong buying interest or positive news has contributed to a continued downtrend within the wedge pattern. While a short squeeze could be triggered by social media hype or a large buy from another investor, the recent liquidity pull has eroded trust in the token’s team. Until there are clear signs of genuine demand, market participants anticipate continued volatility and lower prices for TRUMP.