Trump Meme Coin Sees $17.3M Moved to Binance, Risk of Falling Below $3

▲ Trump Coin (TRUMP)

Official Trump (TRUMP) is facing strong downward price pressure as large-scale token deposits by whale investors coincide with bearish indicators in the derivatives market.

According to cryptocurrency media outlet CoinGape on February 27 (local time), TRUMP failed to break through a key resistance level and fell to around $3.40, extending its weak trend. In the derivatives market, funding rates have turned negative and short positions betting on a decline are increasing, signaling a rapid cooling of investor sentiment. Reports that a whale, believed to be linked to an allocation wallet of the Official Trump Meme Team, deposited a substantial volume of tokens to exchanges have further heightened market anxiety.

On-chain tracking firm Lookonchain stated on X (formerly Twitter) that a whale deposited 5 million TRUMP, worth approximately $17.3 million, to cryptocurrency exchange Binance over the past 24 hours. Most of the tokens were confirmed to have originated from a wallet allocated to the Official Trump Meme Team, amplifying concerns about short-term oversupply and potential price declines. Large deposits are typically interpreted as a precursor to market selling, increasing investor caution.

Derivatives data also supports the possibility of further downside for TRUMP. According to crypto analytics platform Coinglass, TRUMP’s open interest is trending downward, while the funding rate stands at -0.019%. This indicates that investors holding short positions are paying those with long positions, suggesting an overall bearish market outlook. The long-to-short ratio has also dropped to 0.78, nearing its lowest level in the past month.

From a technical analysis perspective, TRUMP is showing a fragile structure. The current price remains below the 50-day and 100-day exponential moving averages, while a downward-sloping trendline is capping upside movement. The Relative Strength Index has rebounded slightly from oversold territory but remains below the neutral 50 level, and the Moving Average Convergence Divergence indicator is showing only a modest recovery. Experts warn that if TRUMP fails to decisively break above the $3.67 level, it could retreat again to the $3.03 support level.

Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on this information. The content should be interpreted solely for informational purposes.