The official Trump coin (TRUMP), backed by Trump, has resurfaced through a new wallet, as revealed by Onchain Lens, which withdrew 425,764 tokens of TRUMP - worth approximately $4.53 million - from Binance.
This transaction either indicates a strategic repositioning or the likelihood of selling it. This comes amid a shocking statement from SEC Commissioner Hester Peirce, also known as 'the Mother of Crypto,' in support of digital assets.
● U.S. Securities and Exchange Commission withdraws: 'No protection' for meme coins
In an interview during the Bitcoin 2025 conference, Pierce confirmed that the SEC has distanced itself from the responsibility of overseeing meme coins.
Pierce explained that since the agency no longer classifies most meme coins, including the Trump coin, as securities, investors should not expect any regulatory guidance or safety net.
Pierce said, 'Folks, if you're expecting any protection from the SEC for these coins, you shouldn't expect that. Buy at your own risk.'
It is important to note that Trump's organization and its affiliates reportedly control 80% of the Trump coin supply.
Critics, especially Democratic lawmakers like Senator Richard Blumenthal, warned of escalating ethical concerns, noting that the coin could provide a backdoor for foreign interests and companies to influence the presidency.
● Price movement: declining value and bearish technical indicators
On the four-hour chart, Trump's stock has significantly declined, now trading at $10.75. Bollinger Band (BB) indicators suggest that the price is moving along the lower band (currently around $10.58), indicating strong bearish momentum and increased volatility.
The price is significantly separating from the middle range (20-period simple moving average at $11.91), confirming that Trump is sticking to the downward area.
On the other hand, the Relative Strength Index (RSI) is currently at 30.57, with previous lows touching the oversold limit at 21.56. This indicates that Trump is approaching severe oversold levels, which may lead to a temporary rebound.
If bearish sentiment continues, and no new catalysts emerge, Trump may return to the psychological support at $10, possibly testing the next liquidity area around $9.20 - $9.50, especially if selling pressure intensifies or a whale starts offloading tokens.
However, if the Relative Strength Index (RSI) drops further into oversold territory (below 25) and trading volume increases, a short-term rebound towards the middle of the Bollinger Band range at $11.90 is likely. However, resistance near $12.30 - a major breakdown area - is likely to limit any upward momentum.
