TRUMP token leads in smart money net inflows
Trending Articles- Gold Price Forecast: XAU/USD tumbles to near $3,950 on Fed's hawkish comments, trade optimism
- Gold holds gains near $3,950 ahead of Trump-Xi meeting
- Gold drifts higher amid growing concerns over US government shutdown
- XRP, BNB, and SOL record major losses as Bitcoin slides to $105,000
- Goldman Sachs and Morgan Stanley warn of potential 20% market decline
- Bitcoin, cryptos fail to rally as Fed Chair sparks cautious sentiment
Official Trump (TRUMP) still leads the meme token recovery. The asset is attracting smart money and whales, following the rapid price recovery in the past week.
Official Trump (TRUMP) is becoming a leader among meme tokens, by attracting higher smart money inflows. Based on Nansen wallet data, TRUMP attracted $684K in netflows from smart money wallets.
TRUMP is going through its most active trading period since January 20, right after the token’s launch. In the past week, trading volumes recovered between $1.5B and $3B in 24 hours. After renewed trader interest, TRUMP returned to $14.64, briefly peaking above $15.50.
TRUMP leads meme token recovery
TRUMP became the fourth-largest meme token by market capitalization, also becoming the top Solana meme. In the past week, the token rallied by more than 84%, after the invitation for a Trump dinner dedicated to token holders.
The competition to acquire more TRUMP still drives whale buying and accumulation in privately held wallets. One whale withdrew 190,987 TRUMP from a Binance hot wallet, presumably to improve their position on the owners’ leaderboard.
Another large-scale holder withdrew 92.46K TRUMP in the past day, adding it to a portfolio of Solana assets. The whale is also a holder of Jupiter JLP tokens, signaling deeper involvement with the Solana ecosystem.
A newly registered HTX cold wallet is also part of the TRUMP owners leaderboard. In the past day, the wallet added another 150K TRUMP. The wallet has been tagged as belonging to Justin Sun, the founder of TRON and supporter of Trump’s crypto projects.
Other whales have been competing to climb the unofficial leaderboard. Most of the TRUMP buyers include prominent influencers and Solana ecosystem participants. The cutoff ownership is at 109,409.199 TRUMP.
Recently, one TRUMP whale sold $300K in FARTCOIN to increase their leaderboard influence. The whale, known as boop, has already taken up to $1.75M in profits from TRUMP, and is now holding the remainder for leaderboard advantage and future rallies.
Some of the recent buyers will probably not be eligible to attend the Trump dinner, even after buying more coins. The acquisition may be a form of speculation, driven by the token’s hype.
In the past days, TRUMP has been highly active, increasing interactions with the Robinhood wallet, and ranking #6 based on Bubblemaps data.
Traders start discounting TRUMP rally
TRUMP remains highly active, but there are signs traders are preparing to discount the rally. The top TRUMP trader has been selling to realize more profits from the recent rally.
The token’s price action managed to compensate the start of team unlocks, with enough buyers to absorb the newly unlocked tokens.
Other whales are making riskier bets that TRUMP will break down from its local highs. One whale is shorting TRUMP on the perpetual DEX Hyperliquid, with a liquidation price of $20.57. The wallet started shorting TRUMP with 2X leverage at $14.73, and is still holding the position.
On centralized exchanges, TRUMP still sees a domination of long positions, as traders are cautious about shorting a volatile asset.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
