Whales Buy $6.42M TRUMP Amid Mixed Market Signals

Whales have resumed investing in the TRUMP token, with two new whales purchasing a total of $6.42 million worth of TRUMP. The first whale, who had previously sold their holdings, bought back 337,950 TRUMP for $5.2 million following the announcement of Donald Trump's exclusive dinner. The second whale switched from Fartcoin to TRUMP, purchasing $1.22 million worth of the token. This buying activity comes after two days of consistent selling in the spot market, which had previously sold approximately $27.63 million worth of TRUMP in 24 hours, halting its earlier momentum.

Despite the whale accumulation, the derivatives market presents a mixed signal regarding the potential direction of TRUMP's price. Over the past 24 hours, liquidation data shows a near balance between short and long liquidations, with $4.42 million worth of long positions and $4.37 million worth of short positions being forcefully closed. This implies a trade balance with no decisive direction for price movement. However, the OI-Weighted Funding Rate, which compares multiple derivatives market metrics to predict the market's potential direction, has a positive reading of 0.0116%, suggesting a bullish phase.

On the other hand, the Funding Rate has remained negative, currently at -0.0019%, indicating that short traders are paying a premium in fees to maintain their positions. This gives short traders an advantage, with more active positions compared to long traders. Additionally, the Derivatives Trading Volume remains negative, currently below 1, reinforcing bearish sentiment. The Long-to-Short Ratio, which indicates whether buying or selling volume dominates, shows sellers in control. If this ratio continues to stay below 1, TRUMP’s price is likely to experience further declines.

In summary, while whale accumulation and spot market trading activity have remained high, derivatives metrics show that sellers are opposing TRUMP’s attempt to repeat last week’s move. The market is currently in a fragile balance between bullish and bearish forces, with no decisive direction for price movement. However, the OI-Weighted Funding Rate suggests a bullish phase, while the negative Funding Rate and Derivatives Trading Volume reinforce bearish sentiment. The Long-to-Short Ratio shows sellers in control, indicating potential further declines in TRUMP’s price.