- A whale’s $24.97M dump of TRUMP and MELANIA tokens, netting $12.4M profit, highlights meme tokens’ high volatility and profit potential.
- TRUMP shows bullish signs near $25.43 support; a breakout above $40 could rally prices to $103.45, but risks remain at $37.41.
- MELANIA teeters at $3.406 support; holding steady may target $5.92, while a breakdown risks further declines and trader losses.
A prominent investor dumped $24.97 million worth of TRUMP and MELANIA tokens, netting a $12.4 million profit. This trade marked the whale’s third success with TRUMP and second with MELANIA, bringing total profits to $26.7 million (+44%) and $5.32 million (+108%), respectively. The whale’s activity underscores the unpredictable nature of meme tokens.
TRUMP Token’s Price Dynamics Show Potential Breakout
TRUMP’s price reflects a rollercoaster ride. Initially, the token rallied sharply, peaking around mid-month before reversing into a steep decline. This decline was followed by consolidation, forming a rounded bottom near the $25.43 support level. Buyers have shown resilience in this zone, leading to minor upward movements toward $40.
Notably, the ascending trend line connecting higher lows suggests gradual accumulation near the support. Volume bars reveal heightened activity during major price shifts, with green bars dominating rallies and red ones during sell-offs.
A potential breakout above $40 could drive the price higher, targeting $103.45, as per technical projections. However, the short-term trend line near $37.41 remains critical. Breaching it could retest $25.43, but a bullish breakout might lead to an explosive rally.
MELANIA Token Faces Crucial Support Test
Meanwhile, the MELANIA token’s price appears weak, hovering near the critical $3.406 support level. After peaking at $5.929, the token entered a pronounced downtrend. This decline led to consolidation between $4.500 and $3.500, with the $3.406 level acting as the “last line of defense.”
The short-term uptrend failed to break the $5.929 resistance, triggering another decline. Reduced trading activity near support indicates indecision among traders. However, if $3.406 holds, MELANIA could recover, potentially targeting $5.92. A breakdown below $3.406, however, might send prices falling lower.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
