- Whale profits trigger bearish sentiment as $TRUMP drops 13.69% with $8.73B trading volume.
- $MELANIA plummets 23.17%, testing $3.00 support with $274.69M in trading activity.
- $TRUMP stabilizes at $37.00, while $MELANIA eyes recovery above $3.50 resistance.
A strategic whale has secured a remarkable $24.97 million from selling 604,988 $TRUMP and 740,495 $MELANIA tokens. This transaction resulted in a net profit of $12.4 million within hours.
The whale’s trading history reflects impressive gains, including $26.7 million from $TRUMP trades with a 100% win rate and $5.32 million from $MELANIA trades with a 50% success rate. However, the sell-off has triggered significant bearish activity in both tokens, reshaping market dynamics and price levels.
$TRUMP Faces Intense Selling Pressure and Price Decline
$TRUMP experienced a steep 13.69% decline over 24 hours, trading at $37.01. This price drop reflects bearish sentiment, intensified by a trading volume of $8.73 billion. The high volume-to-market cap ratio of 117.74% highlights increased volatility and speculative activity.
Initially, $TRUMP peaked at $42.62 but failed to sustain this level, establishing it as a critical resistance point. The price is now stabilizing near $37.00, suggesting potential support at $36.50.
If selling pressure continues, $35.00 may emerge as the next support level. On the upside, overcoming resistance at $38.50 could lead to a retest of $42.62. Monitoring trading volume and sentiment will be essential to assess the likelihood of recovery.
$MELANIA Suffers Significant Bearish Momentum
The $MELANIA token dropped 23.17% in 24 hours, trading at $3.09. This sharp decline is coupled with a high trading volume of $274.69 million, representing 18.25% of its market cap. Despite the price drop, the elevated volume indicates speculative interest.
Earlier, $MELANIA reached a high of $4.00, which now serves as a major resistance level. Buyers may defend the price at $3.00, the immediate support level. However, if bearish momentum persists, the token could decline further to $2.80. For recovery, $3.50 remains a key resistance, while breaking $4.00 could indicate a bullish reversal.
