Whale converts $5M USDC into 630K TRUMP tokens via new wallets – Bullish trend ahead?
A launch to $10 looms… or is it just a fakeout?
- Traders betting on the long side significantly outnumbered those betting on the short side.
- TRUMP memecoin could soar by 18% and reach the $10.10 level in the future.
Amid the ongoing market uncertainty, U.S. President Donald Trump-linked Official Trump [TRUMP] memecoin has making waves with its impressive performance.
This shift in the memecoin’s momentum occurred following recent whale activity.
Whale buys $5M in TRUMP tokens
Recently, blockchain transaction tracker Lookonchain posted on X (formerly Twitter) that two crypto wallets, likely belonging to the same whale, spent $5 million USDC to buy 660,339 TRUMP tokens at an average price of $7.93.
This substantial purchase was made when the TRUMP price was hovering around its crucial support level of $7.60. Naturally, this hefty buy turned heads.
Following the transaction, TRUMP recorded a 2% price surge, trading near the $8.05 mark at press time.
This spike comes at a time when major assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL] are struggling to gain momentum.
Traders’ bets on the long side skyrocket
This transaction has not only created buying pressure and upward momentum in TRUMP’s price but has also shifted trader sentiment, as reported by on-chain analytics firm CoinGlass.
Reportedly, TRUMP’s Long/Short Ratio spiked from 0.98 to 1.11—the highest since March 2025. At press time, 52.69% of top traders held long positions, while 47.31% remained short. Clearly, bulls were gaining control.
Liquidation levels show over-leveraging at both ends
However, traders appeared heavily leveraged at key levels. Long positions worth $9.73 million had stacked up around $7.56, marking a fragile support zone.
Meanwhile, $6.24 million in shorts were sitting at $8.24, forming immediate overhead resistance. These positions suggested that any sharp move—up or down, could trigger a cascade of liquidations.
Thus, the number of traders betting on the long side was significantly higher than those betting on the short side. It also indicates that bulls are currently dominating the asset and could drive an upside move soon.
Technical analysis and upcoming levels
From a technical lens, TRUMP has been in a bearish descending channel since January 2025. That said, it recently bounced from the lower boundary and now inches toward the upper limit.
According to AMBCrypto’s analysis, if TRUMP breaks above $8.50 with a daily candle close, it could rally 18% to hit $10.10. However, failure to breach that level might spark a rejection—and a quick reversal.
For now, all eyes remain on $8.50—a make-or-break zone that could decide whether TRUMP goes parabolic or stalls again.
