Last night, the Trump Coin ($TRUMP) market witnessed a dramatic crash as two major whales offloaded over $8.5 million worth of tokens. This massive dump followed the much-hyped Trump dinner event, which ultimately failed to deliver — leaving investors disappointed and markets shaken.
Market Signals Are Bleeding Red
I’ve been closely monitoring market data via platforms like AlvaApp and Lookonchain, and it’s clear: sentiment has flipped hard. The MACD indicator flashed a strong bearish crossover, while the RSI plunged into single digits — classic signs of panic selling. Making matters worse, exchange inflows spiked, a signal that many are rushing to offload holdings.
Two wallets in particular — 3kjP9L and 7X6Vun — dumped a combined 765,128 $TRUMP tokens, taking a brutal $2.34 million loss. Shockingly, both had been in profit previously. Their capitulation not only erased all gains but torched $1.42 million of their original investment. This move sent a chilling signal across the market.
No Rescue in Sight
So far, there’s been a notable absence of large buyers stepping in to absorb the sell pressure. Once key support levels cracked, a cascade of liquidations hit — particularly among over-leveraged positions. Bears have seized control. Until we see either serious buying pressure or a technical reversal, a meaningful recovery seems unlikely. Minor relief rallies may still occur, but sustained upside is hard to justify under current conditions.
Trump’s Crypto Ties Under Scrutiny
Beyond the charts, Trump’s crypto affiliations are raising eyebrows. Asked about the meme coin during his second day back in office, he casually replied, “I heard it was very successful.” Meanwhile, entities linked to Trump have reportedly earned over $300 million in trading fees since January.
What’s stirring even more controversy is a $2 billion crypto deal between Trump’s firm, World Liberty Financial, and an Abu Dhabi-based company — expected to generate $27 million annually. Ethics watchdogs and political figures are sounding alarms over potential conflicts of interest, casting a long shadow over $TRUMP’s long-t
erm credibility.
