The TRUMP token has seen a substantial decline of over 33% since its price began falling in March. As of Monday, it stood at $2.80. This drop has coincided with increased activity among whale investors.
On-chain data indicates that whales have been accumulating the TRUMP token in anticipation of potential market movements. The concentration of large wallet holders has increased by 5% in recent weeks, signaling strategic interest from major players.
Technically, TRUMP faces resistance around the $3.00 mark, with support established near the recent low of $2.60. A breach above the resistance could signal further upward movement.
For active traders, the accumulation by whales could suggest a possible upside potential. Monitoring large wallet activities might provide insights into future price movements.
On the macro front, the ongoing economic and regulatory environment remains uncertain, potentially influencing speculative assets such as TRUMP.
Despite the recent decline, risks persist due to market unpredictability and external factors. Traders should prepare for potential volatility in the near term.