TRUMP memecoin team moves 4.9mln tokens – Can $2.3 still hold?

Despite continued market weakness, with the TRUMP memecoin trading at $2.4, the allocation team has maintained downward pressure. According to Lookonchain, the Official Trump [TRUMP] Team Allocation wallet transferred 4.915 million TRUMP worth $12.09 million to wallet 3S7zwP. After the transfer, the same wallet deposited 7 million TRUMP worth $17.22 million to BitGo. This wallet has recently become active, depositing 7.5 million TRUMP, worth $21.8 million, over the past three weeks. After the latest movement, the wallet still held around 1.5 million TRUMP, worth about $3.6 million. Given its recent deposit pattern, further transfers remain possible, though the wallet’s next move cannot be confirmed yet. Previous deposits from related wallets have raised sell-off concerns, but the latest transfer does not confirm immediate selling. With team-linked wallets moving large amounts during a period of weakness, the activity has raised fresh concerns around supply pressure. It could reflect operational funding needs, but it may also feed fears of reduced confidence among insiders. Large team-linked transfers often add pressure to weak markets, especially when traders expect those tokens to reach trading venues. Trump's sell-side activity hits heating levels In addition to the TRUMP team, demand for memecoins has dried up, with sellers taking over the market. In fact, the Spot Volume Bubble Map showed a heating market. Heating levels suggested intense trading activity. As such, the Spot market has recorded increased trading activity, with more active participants entering the market.  Interestingly, it seems the trading activity is mostly arising from sellers. Looking at the Spot Taker CVD, this metric has remained largely negative. Thus, the metric showed a sustained period of seller dominance, which coincides with heating spot activity.  Therefore, market activity is largely driven by sellers. Often, combined with spot-market heating and seller dominance, this leads to a cascade of sell-offs, causing sharper price drops.  More losses ahead for the memecoin? TRUMP has continued to hover around $2.4, and even with the latest token transfer, the memecoin barely moved. Despite no significant price movement, the memecoin's downward momentum remains elevated. In fact, the memecoin's Balance of Power indicator has remained negative, currently around -0.68. At these levels, this indicator suggests sellers have continually pushed prices down more effectively, thus bears have total control. Likewise, the Aroon Oscillator has remained negative for two consecutive weeks and is currently around -28, further confirming this bearishness. These two indicators signal total bearish dominance and strong downward momentum, suggesting a likelihood of trend continuation. Thus, the continuation of the prevailing market conditions could see TRUMP breach $2.3 support and drop to $2.0. Final Summary The TRUMP team moved 4.9 million tokens to a new wallet and deposited 7 million TRUMP, worth $17.22 million, to exchanges.  Official TRUMP [TRUMP], under extreme sell-side pressure and reaching heating levels, signals continued market weakness.