74 Million USD Token TRUMP Moved by Crypto Whale: Will There Be a Sell-off?

The meme currency TRUMP, which gained attention after President Donald Trump's second inauguration, has witnessed significant price fluctuations, not to mention increasing attention from the cryptocurrency community. Initially showing promise with a breakthrough price increase model, TRUMP currency is now showing signs of instability after recent sell-offs and whale activity. Price signals and market behavior Cryptocurrency analyst Ali Martinez has observed a potential price increase trend for TRUMP, citing the formation of a descending wedge pattern on lower time frames. Through platform x, the analyst concluded that such technical patterns often indicate a decrease in selling pressure, suggesting that after a consolidation period, the token may experience a price recovery. Notably, Martinez predicts that TRUMP could see an increase of up to $54, with the likelihood of a breakout increasing. Despite the optimism, the TRUMP meme coin has had a rocky journey. After reaching a peak of $60 right after its launch, this coin has dropped sharply to $40.25, a decrease of 11% in just 24 hours. However, even with this decline, the coin still maintains an impressive trading volume of $31.82 billion, reflecting continuous interest despite price fluctuations. The consolidation is happening around the reduced model only raises speculation about TRUMP's next move. With a market capitalization of $8.05 billion and 200 million tokens in circulation, this meme coin could soon break out, provided that selling pressure continues to decrease. Whale activities cause concern Recently, cryptocurrency whales have taken actions that have raised eyebrows in the TRUMP token community. Two large transactions, totaling $74.22 million, were recorded immediately after Trump's inauguration. One highlighted transaction, reported by Lookonchain, saw the sale of 194,799 TRUMP tokens worth about $6.83 million. The seller, identified as the 'Ansem' wallet, incurred a loss of approximately $2.55 million by selling at a lower price than the purchase price. In another transaction, Whale Alert reported the transfer of 1,621,351 TRUMP tokens - worth about $67.4 million - from an unknown wallet to another. This move has raised concerns that there may be additional rounds of sell-offs as whales sell off large amounts of TRUMP, potentially putting further downward pressure on the token. At the time of these transactions, after Trump's inauguration, speculation about the possibility of a pump-and-dump scenario has arisen. Such large volume movements often signal an unstable market, with larger investors wanting to take profits or move assets before further decline. The market's pains for Solana Meme Coin Aside from TRUMP, other meme tokens based on Solana such as MELANIA and BONK have also seen significant declines. MELANIA, which had gained considerable traction in a short period, has dropped by over 60%, while other tokens like WIF and MEW have also faced losses in the past 24 hours. The overall decline in the meme token sector may be related to the increasing caution of investors. Although the price of TRUMP has increased by 440% since its launch, a recent sell-off, combined with concerns about regulations and ethics, has made investors wary. Critics, including businessman Mark Cuban, have warned of the potential market manipulation and the lack of investor protection in meme projects like TRUMP. DYOR! #Write2Earn #Write&Earn $TRUMP {spot}(TRUMPUSDT)