Whale Withdraws $4.53 Million in TRUMP Tokens Amid SEC Warning
The meme coin Official Trump (TRUMP) has gained attention due to a recent transaction involving the withdrawal of 425,764 TRUMP tokens, valued at about $4.53 million, from Binance. This action suggests potential strategic changes or an upcoming sell-off. SEC Commissioner Hester Peirce announced that the SEC will not regulate meme coins like TRUMP, indicating no investor protections.
- 80% of TRUMP's supply is controlled by the Trump Organization and affiliates
- Senator Richard Blumenthal raised ethical concerns regarding foreign influence through the coin
- Current trading price for TRUMP is $10.75, with significant downward momentum indicated by technical analysis
- Bollinger Bands show prices are near the lower band, signaling increased volatility
- RSI is at 30.57, nearing oversold levels which could lead to a temporary bounce
If bearish trends continue, TRUMP may test support around $10 and further down to $9.20–$9.50 if selling pressure increases. A possible short-term bounce could occur if RSI enters severe oversold territory, but resistance at $12.30 may limit upward movement.
TRUMP 4H Chart | Source: TradingView