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Trump Coin Crashes as Whales Dump Millions After Dinner Flop
By: cryptofrontnews|2025/05/05 07:45:01
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Two whales dumped $8.5M in $TRUMP after the Trump dinner hype faded, erasing prior gains and signaling bearish momentum.Technical indicators like MACD and RSI confirm a strong bearish shift in $TRUMP as whales exit and forced liquidations rise sharply.Trump-linked entities face mounting ethics concerns after earning $300M from meme coin trades and sealing a $2B Abu Dhabi crypto deal.Two major whales dumped over $8.5 million worth of $TRUMP within hours, shaking investor confidence. According to Lookonchain, wallets 3kjP9L and 7X6Vun exited $TRUMP at heavy losses. Together, they offloaded 765,128 tokens, incurring a $2.34 million collective loss. Both had previously profited—yet wiped out gains and burned another $1.42 million in principal. This capitulation spooked the market. Moreover, order flows turned bearish immediately after the Trump dinner event disappointed speculators.Bearish Technicals Confirm Risk-Off ShiftAlvaApp reports sharp sell-offs followed by a MACD bearish crossover and RSI plunging into single digits. Consequently, technical sentiment flipped aggressively negative. Besides, exchange inflows surged as wallets rushed to deposit tokens. This trend aligns with the broader risk-off environment. Notably, liquidation data revealed forced exits from over-leveraged positions. Hence, momentum now favors the bears.Additionally, Alva notes that whales chased performance too late. Many entered after Trump-related euphoria peaked. When prices broke support levels, panic set in. No large buyer stepped in to stabilize price action. Until such a reversal emerges, downside pressure will likely persist. Relief rallies may occur, but sellers dominate the current structure.Ethics Questions Surround Trump's Crypto TiesMeanwhile, scrutiny around Trump-affiliated crypto ventures intensifies. On his second day back in office, Trump deflected questions about his meme coin. “I heard it was very successful,” he quipped. However, watchdogs and analysts highlight deeper concerns. Trump-linked entities have reportedly made over $300 million in trading fees since January.Moreover, another Trump venture—World Liberty Financial—announced a $2 billion crypto deal with an Abu Dhabi firm. Experts claim this partnership could generate $27 million annually. Democrats and ethics experts warn of serious conflicts of interest. These developments cast a long shadow over the $TRUMP token’s legitimacy.The post Trump Coin Crashes as Whales Dump Millions After Dinner Flop appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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