- Early SHIB and NEIRO whales cash out millions as Trump Coin enters the market, driving new volatility and interest.
- Trump Coin sees sharp price swings, with RSI and MACD indicators signaling bearish momentum despite slight recovery attempts.
- Resistance at 42.74 USDT limits Trump Coin gains, as trading volume spikes during sell-offs highlight market indecision.
Early adopters in the memecoin are capitalizing on profits as Trump’s new cryptocurrency reshapes the digital asset landscape. A 4-year-old SHIB whale, identified as “0x3de,” sold 216 billion SHIB tokens for 1,587 ETH, worth $5.39 million. This whale initially acquired 664.22 billion SHIB for $4,510 in February 2021, marking a stunning $15 million profit.
Meanwhile, whale “0x3cf” made a substantial $1.16 million NEIRO deposit to Binance after buying these tokens for 34.65 ETH ($87,900) just five months ago. If entirely sold, this transaction would yield a 1,224% profit.
The recent crypto surge is linked to Trump’s 2024 campaign, where his family launched World Liberty Financial. This company, aiming to “revolutionize finance,” introduced a cryptocurrency under CIC Digital LLC, adding to their controversial NFT ventures from 2022.
Trump Coin Faces Market Volatility
Trump Coin (TRUMP) opened trading on January 20, 2025, at 41.07 USDT, reaching a high of 42.74 USDT before closing at 42.62 USDT. This 3.80% hourly gain reflects heightened activity, as trading volume hit 4.77 million tokens. However, the market faced intense volatility with sharp price swings.
Technical indicators suggest weaker momentum. The RSI fluctuated between 39.83 and 46.53, signaling to trade below the neutral 50 levels. Despite minor upward trends, buyers failed to establish dominance. Similarly, the MACD line at -4.66, closely aligned with the signal line at -3.94, pointed to bearish sentiment.
Source: CryptoRank
Resistance Levels and Buyer Indecision
The price faced resistance near 42.74 USDT, with red candles dominating in the latter half of the session. Although intermittent green candles hinted at recovery, bearish patterns prevailed. Smaller candlesticks in subsequent sessions indicated consolidation and indecision, with price movements confined within a narrow range.
Trading volume surged during sell-offs but dwindled during consolidation phases, signaling limited buyer engagement. The market’s bearish outlook reflects heavy selling pressure, despite brief recovery attempts.
The post Trump Coin Fuels Volatility as Memecoin Whales Cash In on Multi-Million-Dollar Gains appeared first on Cryptonewsland.
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