The Trump Coin has extended its downtrend, hitting its lowest price since October amid a significant sell-off from major token holders. The meme coin, which traded near $50 in January, has since fallen to around $5.78, marking a decline of over 40% from its October high.

This price crash is part of a broader negative trend affecting other assets associated with Donald Trump. Trump Media’s stock has fallen by over 70% this year, and the World Liberty Financial (WLFI) token has also seen a sharp drop from its peak. Similarly, American Bitcoin, a token primarily owned by the Trump family, cratered by more than 40% this week following a lock-up expiration.

On-chain data reveals that the selling pressure on Trump Coin is largely driven by its biggest investors. According to analytics firm Nansen, these “whales” have been consistently reducing their positions over the past few months. Their collective holdings have shrunk from 5.3 million tokens in November to just 3.84 million. Such large-scale selling often creates downward pressure as it floods the market with supply.

Other market indicators also point to weakening demand. The number of tokens held on exchanges has climbed from 147 million to 148 million since November, suggesting more investors are preparing to sell. In the futures market, open interest for Trump Coin has been in a steady decline, signaling reduced speculative interest.

Trump Coin Price Technical Analysis

On the daily chart, the Trump Coin’s bearish trend is clear. The price has fallen sharply from last month’s high of $9.56 and remains below all key moving averages. The Percentage Price Oscillator, a momentum indicator, has dropped below the zero line and continues to point downward, reinforcing the negative sentiment.

Based on these technicals, the most likely outlook is a continued decline. The initial target for sellers appears to be the all-time low of $4.57, which is approximately 22% below the current price. A break below this support level could push the token under $4 this month. Conversely, a reversal would require a move above the resistance level at $7, which could open the door for a potential rally back toward the October high of $9.56.

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