Whales, Memecoins, and Trump: The Wild Ride of $342M! 🐋💰

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  • In a twist worthy of a soap opera, an unknown wallet decided to transfer a staggering 20 million TRUMP, worth a jaw-dropping $341.923 million. Who knew wallets could be so generous? 💸
  • Meanwhile, the whales, those big fish in the crypto sea, have been busy building long positions worth $49 million at the $15.92 level. Talk about a whale of a time! 🐳

After a prolonged and rather dramatic price drop that could make even the most stoic of traders weep, the memecoin known as TRUMP, named after the man himself, has decided to make a comeback. It’s like watching a soap opera where the hero rises from the ashes, only this time, it’s a cryptocurrency. At the moment, the larger cryptocurrency market seems to have donned its party hat, and TRUMP is dancing right along with it.

Whale moves 20 million TRUMP from Binance

Another feather in TRUMP’s cap is the sudden surge of interest from the whales, coupled with its recent debut on Upbit. It’s like the memecoin is the new kid on the block, and everyone wants to be friends.

Recently, the blockchain sleuths at Whale Alert took to X (formerly known as Twitter, because who doesn’t love a good rebranding?) to announce that an unknown wallet had transferred a whopping 20 million TRUMP memecoins from Binance. It’s like a game of hot potato, but with millions of dollars at stake!

Impact on TRUMP’s price

Following this monumental transaction, TRUMP saw a notable uptick in momentum, as if it had just downed a double espresso. The trading volume also decided to join the party, increasing significantly. As of now, the crypto is trading near $19.05, having jumped over 12.50% in the last 24 hours. It’s like watching a rollercoaster, but without the safety harness!

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Additionally, trading volume has surged by 25% over the same period. It seems traders and investors are feeling a bit more adventurous than usual. Maybe they’ve been watching too many motivational videos? 📈

Bullish on-chain metrics

According to the wise sages at CoinGlass, since the token’s inception, the memecoin has been on a continuous accumulation spree, with only three days of dumping. It’s like a hoarder’s paradise, but for crypto!

As of now, the spot inflow/outflow metric indicates that exchanges have seen an outflow of nearly $10 million in TRUMP memecoins in the last 24 hours. This suggests that traders are feeling optimistic, or perhaps just a bit reckless. Who doesn’t love a good gamble? 🎲

Major liquidation levels

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While investors, whales, and long-term holders are hinting at potential accumulation, the intraday traders are cranking up the heat with their open positions. Data shows that TRUMP’s Open Interest (OI) has surged by 12% in the last 24 hours, with most positions leaning towards the long side. It’s like a game of chicken, and everyone’s betting on the same horse!

Intraday traders are feeling particularly bullish, and at press time, they are over-leveraged at the $15.92 level, holding $49.23 million worth of long open positions. Meanwhile, those daring souls betting on short positions are over-leveraged at $20, with $7.50 million worth of short positions. It’s a high-stakes poker game, folks!

The continuous bets on long positions suggest that TRUMP is feeling bullish and could soon trigger the liquidation of short positions. In layman’s terms, the surge in interest, combined with whale accumulation and traders’ optimistic bets, has shifted the market sentiment for TRUMP. It’s like a party where everyone’s invited, and the drinks are flowing!

TRUMP’s upcoming levels

In the past few days, the memecoin’s four-hour chart has been flashing a pattern of lower highs and lower lows

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2025-02-14 19:12