Whale $TRUMP Moves $143 Million Token Amid Sell-off Concerns

A large TRUMP transfer has shaken the crypto market. Whale Alert marked a transfer of 15.3 million TRUMP tokens, worth over $143 million, between unidentified wallets on the Solana network. This sudden change has raised new fears of a sell-off among traders. This is because the TRUMP token has been struggling with high volatility due to hype and political speculation. The token is currently priced at 9.24 dollars and has increased slightly by 0.02% in the last 24 hours.

However, analysts warn that the token is trading precariously close to its key support point of 9.21. A drop below this could trigger a panic sell-off. On-chain data shows an increasing outflow, indicating that holders may be transferring tokens to exchanges for the purpose of selling. AlvaApp indicates that recent whale activity is putting pressure on short-term price volatility. The trading volume of TRUMP has increased by 117% in the past 24 hours, surpassing 308 million dollars, signaling rising interest and tension in the crypto market. The token has slightly decreased below the $9.10 level earlier today but quickly recovered as buyers entered the market and showed good support in the short term. However, market watchers remain cautious with a large amount of money moving out of unidentified wallets. Adding to the excitement, TikTok has denied U.S. Congressman Brad Sherman's claim that its owner purchased $300 million in TRUMP tokens. All eyes are now on the next move of TRUMP. Will it hold the $9.21 level or collapse under pressure? The next few trading sessions could be a success or a failure.