- A newly created wallet moved 1M $TRUMP tokens, adding to recent large-scale outflows.
- Combined holdings from two major wallets reflect steep losses after token’s drop from $12.82 to $10.60.
- Bearish Indicators Dominate $TRUMP with RSI at 39.78 and MACD below signal line pointing to weakening support levels.
A newly created wallet has withdrawn 1 million $TRUMP tokens, valued at approximately $10.78 million, from Binance within the past hour according to data from Lookonchain. This significant movement follows a previous high-profile withdrawal by @MemeCore_ORG, which had earlier transferred 1.39 million $TRUMP tokens—worth around $17.8 million at the time—from the same exchange. The average purchase price during that transaction stood at $12.82. However, based on current market data, that holding now reflects an unrealized loss of approximately $2.8 million.
The recent activity comes amid a price pullback for the $TRUMP token, which currently trades at $10.56, down 5.37% in the last 24 hours. Notably, this price is also 17.3% lower than @MemeCore_ORG’s acquisition price, underscoring the scale of the loss.
$TRUMP Trades Near Support Amid Falling Volatility
Currently ranked #56 by market capitalization, $TRUMP has seen heightened trading activity and increased research from market analysts. The token’s daily price movement exists between a support level of $10.44 and a $11.36 resistance The price range demonstrates a decreased volatility level after large sequential withdrawals happened.
At the time of writing, the $TRUMP token was trading near its immediate support at $10.56, signaling potential stress around current levels. If this support fails, analysts are watching the lower bands for signs of a broader correction.
Whale Withdrawals Spark Speculation Amid $2.8M in Unrealized Losses
The movement of $10.78 million worth of $TRUMP from a newly established wallet adds another layer to the ongoing activity trend. Coming shortly after the @MemeCore_ORG withdrawal, this transaction may contribute to speculation around coordinated accumulation or reallocation efforts.
The collective value of the two withdrawals amounts to 2.39 million tokens that cost over $2.8 million during acquisitions. The latest token market value underperforms historical transaction costs thus causing significant loss allocation between both wallet portfolios.
Technical Indicators Show Mixed Momentum
TRUMP token continues to cut its April gains after a rejection from resistance between $16.00 and $17.00 with the immediate support at $11.36 is still intact.
The Relative Strength Index (RSI) is trading at 39.78 showing TRUMP is neither overbought nor oversold territory suggesting that the asset is in a neutral or slightly bearish range.
However,the MACD line is trading below the signal line showing TRUMP is in a bearish momentum.Moreover, movement toward the oversold region could accelerate declines in the short term, as traders could be encouraged to close positions, reducing exposure to TRUMP.
