A significant wallet identified as CrUYR1 has realized a loss of $1.37 million on its sale of TRUMP tokens amidst a recovering cryptocurrency market.
Major Loss on TRUMP Sale
The wallet CrUYR1 sold 407,427 TRUMP tokens valued at $3.96 million. According to Lookonchain, this wallet had acquired the tokens five months ago, exiting the position at a loss of approximately $1.37 million.
Technical Indicators Show Tight Price Range
As of now, the TRUMP token trades at $9.80, reflecting a 13% increase over the past week. Analysis indicates that the token is consolidating in a narrow price range of $8 to $10 with reduced volatility.
Concerns Arise Around TRUMP Token After Unlocking
The founding team is set to unlock 90 million tokens on July 18, nearly 45% of the total circulating supply, raising concerns about potential supply increases and market pressure.
Upcoming token unlocks and technical analysis point to uncertainty regarding the future of the TRUMP token, as the expected increase in supply could impact market sentiment.
