2,500,000 $TRUMP tokens were transferred.
With a value of approximately $22.49 million, #بينانس was moved from a cold wallet to a hot wallet.
Trump's price continues to drop sharply, with the MACD indicator showing that bears are in control of the market with decreasing volume and open interest.
2.5 million official Trump tokens [$TRUMP ] worth $22.49 million were transferred from Binance's cold wallet to its hot wallet.
Of course, this has sparked speculation regarding upcoming selling pressures. Historically, such movements have served as precursors to liquidation events, as hot wallets are often used to execute on the exchange side.
This was not a one-time mix-up.
In recent months, there have also been larger groups of 5 million and even 20 million #TRUMP changing internally, which may indicate an active liquidity management process.
Although it may not be certain whether it is being sold, recent developments have made investors cautious. If these tokens are listed in the open market, it could lead to short-term volatility.
To what level can the price of #TRUMPmemecoin drop?
The price movement on the four-hour chart showed that TRUMP is stuck in a descending wedge pattern, which is typically a bullish reversal pattern if confirmed.
However, at $8.95, $TRUMP was still close to the wedge resistance level. Previous price movements were rejected several times in an attempt to reach $9.20, and it found support at $8.40.
MACD lines were moving below the zero line with a bearish crossover. This indicates seller dominance. If the downward movement forces the price below $8.40, it is likely that the price will return to $8.
However, once the price surpasses $9.20, a retest of the $10.40 level at the top of the wedge pattern can be expected. This constricted pattern indicates pressure on volatility, suggesting it may fade later.
MACD indicators have declined, supporting strong bearish efforts.
However, for a reversal in Trump's trajectory to occur, a clear breakout and retest of the resistance area at $9.20 must happen. Up to this point, bearish pressure has been dominant at the wedge pattern.
Declining trading volume and open interest indicators alongside increasing liquidations of long contracts.
Since late May, both open interest and trading volume have steadily declined, indicating a decrease in trader confidence.
Meanwhile, the sharp increase in Trump stock liquidations indicated the crushing of bulls, confirming a decline in buying momentum.
The Coin, Glass liquidation chart showed a series of long pressure bars, reflecting an increase in loss-driven exits. While slight peaks in trading volumes led to recovery spikes, they did not achieve sustainable highs.
With declining trading positions and a lack of new participant inflows, Trump faced a liquidity crisis. Bears dominated the market in what appeared to be a shrinking market. #TrumpSupportsCrypto #NODEBinanceTGE