The TRUMP cryptocurrency experienced a sharp decline in value after a major holder, known as a whale, sold off a substantial number of tokens. This led to significant market volatility and a more than 13% decrease in token value over the past 24 hours.
Massive TRUMP Sale: Deal Details
According to blockchain analysis by Lookonchain, a whale sold 763,582 TRUMP tokens for 9.48 million USDC. This transaction resulted in a 24.4 million dollar loss for the investor, who had previously made 11.8 million dollars from TRUMP tokens.
Market Impact
The sale caused the TRUMP price to drop by more than 13% in 24 hours. The overall value of the tokens has decreased by 57.70% over the past 30 days, significantly impacting the current market situation of the TRUMP token, which, with a market valuation of 2.59 billion dollars, ranks as the fourth-largest meme cryptocurrency.
TRUMP Technical Indicator Analysis
Following the price crash, TRUMP's RSI entered oversold levels, suggesting a possible rebound soon. Such technical indicators usually hint at the potential for price correction and a return to higher levels in the near future.
The sharp sell-off of TRUMP tokens by a major investor significantly affected market value, leading to increased volatility. While technical indicators suggest a possible quick turnaround, the current situation remains unstable.
