Large holders, including the TRUMP development team and Cumberland DRW, have sold a total of $24 million worth of the meme token recently.
US President Donald Trump‘s Official Trump TRUMP $5.86 24h volatility: 1.7% Market cap: $1.17 B Vol. 24h: $230.09 M token, which had recently skyrocketed following the hype surrounding a private dinner invitation with the POTUS, has come under severe pressure after a massive token dump by insiders.
At press time, the TRUMP token trades at a 5% loss, driven by a confluence of bearish catalysts, including over $24 million in combined token offloading by the team and market makers.
TRUMP Team and Cumberland Flood the Market
According to on-chain analytics from Lookonchain, wallets linked to the TRUMP team deposited $19.6 million worth of tokens across major centralized exchanges, including Binance, OKX, and Bybit.
A wallet linked to the $TRUMP team deposited 1,346,000 $TRUMP($19.58M) into #Binance, #OKX, and #Bybit 9 hours ago.https://t.co/Mkk5VIjIFW pic.twitter.com/G4cuIBrQVq
— Lookonchain (@lookonchain) April 29, 2025
The breakdown:
- Binance: 700,000 TRUMP tokens, worth approximately $10.21 million
- OKX: 350,000 tokens, valued at $5.1 million
- Bybit: 296,000 tokens, totaling around $4.3 million
Adding to the sell pressure, prominent market maker Cumberland DRW transferred an additional 300,000 TRUMP tokens to OKX, amounting to $4.4 million.
Combined, this represents over $24 million in token deposits, a move that has triggered panic among retail holders. The timing, just weeks ahead of the high-profile May 22 dinner, has amplified concerns that insiders may be exiting.
Notably, Democratic US Senators Adam Schiff and Elizabeth Warren have formally requested an ethics inquiry into the private dinner hosted by Trump for TRUMP token holders.
Their April 25 letter to Office of Government Ethics Director Jamieson Greer highlights that the dinner, which coincided with a sharp price rally, may have misled investors and influenced financial markets.
Technical Analysis: Signs of Exhaustion and Bearish Reversal
As of press time, TRUMP trades at $14.11, down from a recent high of $15.59. The token has breached key support at the 0.618 Fibonacci retracement level ($14.12) and is now flirting with the 0.786 level at $13.78.
If it fails to hold here, the next major downside target lies at the 1.618 Fib extension around $11.86, followed by deeper support at $9.56 and $7.26.
4H TRUMP Price Chart | Source: TradingView
The Relative Strength Index (RSI) has dropped to 62.59, cooling off from its recent overbought levels above 80. This RSI divergence suggests bullish momentum is fading. A drop below 50 could confirm a stronger bearish breakdown.
Meanwhile, Bollinger Bands (BB) are beginning to squeeze, signaling declining volatility and the potential for a decisive move. Price action breaking below the mid-band (20 SMA), currently at $14.02, hints at weakening support.
A bullish scenario would require TRUMP to reclaim the upper Fib levels, particularly the $15.00–$15.59 zone. A close above this resistance could open the door to new highs.
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