Onchain data shows a wallet linked to Official Trump moved 5.26 million TRUMP tokens, worth $22.44 million, to a BitGo custody wallet. This large transfer has sparked speculation of a potential sell-off, as the token’s price faces resistance amid declining volume and bearish derivatives positioning. Analysts note the asset is in a downtrend, with its next major price direction hinging on a break above the $4.30 resistance level.
A wallet connected to the **Official Trump** team transferred 5.26 million TRUMP tokens to a **BitGo** custody wallet, according to a report shared by Onchain Lens. The movement of these tokens, valued at approximately $22.44 million, has led to market speculation about a possible sell-off.
Data from CoinMarketCap showed TRUMP had lost 21% of its value over the past month. Despite a 3.25% gain in 24 hours to $4.26, trading volume fell 35% to $196.75 million, signaling weak participation.
From a derivatives perspective, traders and investors held a bearish outlook. According to CoinGlass, liquidation levels were concentrated around $4.17 for longs and $4.35 for shorts.
Spot Inflow/Outflow data revealed over $473,900 worth of TRUMP was moved to exchanges in 24 hours. Such inflows often suggest preparation for selling activity.
On the daily chart, TRUMP is facing strong resistance at the $4.30 level. A successful breakout could lead to a 10% price jump toward $4.70.
Technical indicators present a mixed picture for the asset’s momentum. The Average Directional Index (ADX) reading of 35.97 indicates a strong trend, while a Money Flow Index (MFI) of 30.27 suggests the token is nearing oversold territory.
