- A whale lost $207K on TRUMP despite a past $108M profit, showing the market’s unpredictability even with high-profile endorsements.
- A dormant Bitcoin whale moved $250M after 8 years, sparking speculation on potential sell-offs or further accumulation.
- TRUMP token shows bullish signs, with RSI and MACD indicators hinting at a breakout despite weak market conditions.
According to Lookonchain, Crypto whale who previously made $108 million on the TRUMP token lost $207,000 in just one hour. This happened after former U.S. President Donald Trump posted “I LOVE $TRUMP” on social media. The whale spent 5 million USDC to buy TRUMP immediately after the post. However, within an hour, the whale sold at a loss. This investor had earlier turned 1.09 million USDC into 5.97 million TRUMP, yielding enormous profits.
Besides, the incident highlights the fragile state of the current crypto market. According to Popular analyst Ash Crypto, even a direct endorsement from a high-profile figure like Trump did not spark a substantial price surge. In previous bull markets, similar mentions of meme tokens like Dogecoin caused prices to skyrocket by over 400%. However, the current environment lacks the same buying pressure and volume.
Dormant Bitcoin Whale Awakens After Eight Years
Additionally, a long-inactive Bitcoin wallet has resurfaced after remaining dormant for over eight years. In the last 16 hours, the whale has transferred more than $250 million worth of Bitcoin, according to Arkham Intelligence. Interestingly, the wallet now has a worth of about $250 million, up from $3 million in 2017.
These large movements often attract significant market attention. Consequently, such activity raises questions about potential sell-offs or further accumulation. This reawakening also signals the ongoing interest of long-term holders despite the market’s uncertain state.
TRUMP Token Shows Bullish Signs Despite Market Weakness
In the meantime, the price of the TRUMP/USDT trading pair on Binance is demonstrating possible signs of a breakout. The token shows a descending wedge pattern that indicates price movement from the $10.00 region to a high of $12.00. At present, TRUMP is trading at $11.88, down slightly by 0.17%.
Moreover, volume surged to 1.62 million during the breakout, indicating increased trading activity. The Relative Strength Index (RSI) is 61.20, moving above the neutral level of 50.88. Furthermore, the MACD line of 0.15 has crossed above the signal line at 0.12, indicating a bullish trend.
