The post Whale Buy $341 Million Worth TRUMP Meme Coin, Rally Imminent? appeared first on Coinpedia Fintech News
After a significant price drop in recent days, United States President Donald Trump’s Trump (TRUMP) meme coin has shown strong strength, experiencing an impressive price surge. The potential reason behind this upside momentum is the rising interest and heavy accumulation by whales and investors, along with the potential listing of the meme coin on the Upbit cryptocurrency exchange.
20 Million TRUMP Moves From Binance
Today, February 13, 2025, blockchain-based transaction tracker Whale Alert made a post on X (formerly Twitter) reporting that a crypto whale had moved 20 million TRUMP meme coins, worth $341.9 million, from Binance. However, the wallet address remains unknown.
In the cryptocurrency market, experts and analysts view this token withdrawal as a positive sign and consider it a potential accumulation.
Current Price and $8 Million TRUMP Outflow
The TRUMP meme coin is currently trading near $16.38 and has experienced a price surge of over 12% in the past 24 hours. The meme coin also made an intraday high of $18. However, during the same period, this positive outlook has attracted notable traders and investors, leading to a 180% jump in trading volume compared to the previous day.
Besides rising participation, these whales and traders seem to be accumulating and betting on the TRUMP meme coin, as reported by the on-chain analytics firm Coinglass.
One thing that might intrigue you is the continuous outflow of the meme coin from exchanges. Data from the spot inflow/outflow revealed that exchanges have witnessed a consistent outflow, with only three days when exchanges saw an inflow.
Source: Coinglass
Today, the market has seen an outflow of $8 million worth of TRUMP meme coin, which indicates potential accumulation.
Rising Open Interest and Key Levels
Besides the interest from long-term holders and investors, intraday traders have been increasing their open positions today. In the past 24 hours, TRUMP’s open interest (OI) has soared by 12%, which also appears to be a bullish sign.
Besides this bullish outlook, expert technical analysis suggests that TRUMP’s four-hour chart shows a bearish signal, as it appears to be forming a lower high and lower low. Based on the recent price action, this bearish trend will end once the meme coin closes a four-hour candle above the $18 level.