TRUMP Token Surges 79% in Volume After $143M Whale Move Near $9.45 Break
TRUMP/USDT is back in focus after a sudden $143 million token transfer on the Solana blockchain raised fresh questions about whale...
Quick overview
- A sudden $143 million token transfer of TRUMP/USDT on the Solana blockchain has raised concerns about whale activity and potential sell pressure.
- Despite recent volatility, TRUMP coin is trading at $9.26, showing a minor gain, while technical indicators suggest a crucial breakout point at $9.45.
- TRUMP's trading volume surged by 79% to $308 million, with traders divided on whether this indicates accumulation or distribution.
- The outcome at the $9.45 resistance level will be critical for determining the token's short-term direction.
TRUMP/USDT is back in focus after a sudden $143 million token transfer on the Solana blockchain raised fresh questions about whale activity and short-term volatility. The massive move, one of the largest in the meme coin’s brief but dramatic history, was flagged by multiple crypto tracking platforms.
Whale behavior like this often unsettles traders, especially when outflows exceed inflows—typically a signal that tokens might be moved to centralized exchanges for liquidation. On-chain data confirmed this trend, prompting speculation of incoming sell pressure. Blockchain analytics firm AlvaApp noted that similar patterns in the past have preceded sharp price swings.
Despite the turbulence, TRUMP coin managed to stay afloat, trading at $9.26 at the time of writing, a minor gain of 0.02% over 24 hours. However, technical levels suggest the asset is at a crucial pivot.
TRUMP Eyes $9.45 Breakout After Downtrend
TRUMP/USDT is coiling beneath the descending channel resistance at $9.45 since mid-June. But something is brewing. It has formed a series of higher lows and the MACD is showing a bullish crossover.
It’s now facing a double test: the channel top and the 50-EMA at $9.65. A break above these levels could take it to $9.83 and if momentum holds, $10.19. But be cautious. A failure at resistance could send TRUMP back to the supports at $9.04, $8.72 or even $8.41.
Trade Setup:
- Long Entry: Breakout above $9.45
- Stop-Loss: Below $9.04
- Targets: $9.83 and $10.19
- Caution: Watch for spinning tops or rejection candles near $9.45
Volume confirmation and MACD continuation will be key to validating any breakout.
Volume Jumps 79% as Sentiment Stays Split
After the whale transfer, TRUMP’s 24-hour volume jumped 79% to $308 million. Market cap remains at $1.85 billion. Traders are divided if this is accumulation or distribution. Adding to the narrative, TikTok refuted claims made by Rep. Brad Sherman that its parent company purchased $300 million in TRUMP coin, calling the rumor “entirely unfounded.”
In the short term, eyes are on the $9.45 level. If bulls take control, TRUMP could snap its downtrend. If not, the meme token may see more downside before stabilizing again.
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