Trump Token Soars Before Plummeting! Insider Selling and Political Turmoil Leave Investors Alarmed!

Trump's official TRUMP token surged briefly due to a private dinner event but now faces significant selling pressure. According to on-chain analysis, Trump's team and market makers sold over $24 million worth of TRUMP tokens, triggering market panic, with prices plummeting to 5% at one point. These sell-offs occurred around the private dinner on May 22, raising concerns among investors about potential insider exits.

Additionally, a U.S. Democratic senator has initiated an ethical investigation into the dinner event, believing it may have misled investors and impacted financial markets. From a technical perspective, the TRUMP token has broken through key support levels, and if it cannot maintain its current position, it may face greater downward potential, targeting $11 or below.

Current market sentiment is sluggish, and it may be difficult to regain upward momentum in the short term, requiring investors to be cautious of potential risks.