In the volatile market context, memecoin Official Trump (TRUMP) – the digital currency associated with former US President Donald Trump – is emerging as a bright spot due to its impressive growth.
The unexpected surge of this meme coin occurred immediately after notable movements from market 'whales', causing investors to be curious and closely follow the developments.
Recently, Lookonchain — a platform specializing in tracking on-chain data — shared on social media X (formerly Twitter) that two cryptocurrency wallets, likely belonging to the same whale, just spent 5 million USDC to buy 660,339 TRUMP tokens at an average price of $7.93.
This large-scale transaction was executed when TRUMP was fluctuating around the critical support level of $7.60. It was not surprising that this sudden 'accumulation' quickly attracted market attention.
Shortly after, TRUMP's price jumped 2%, trading around $8.05 at the time of writing.
Notably, TRUMP's acceleration occurred when the overall market is still struggling with correction pressure, as large-cap coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have not yet regained clear growth momentum.
The recent transaction not only boosted strong buying pressure and created price momentum for TRUMP but also marked a turning point in investor sentiment, according to the latest report from on-chain data analysis company CoinGlass.
According to data, TRUMP's Long/Short ratio jumped from 0.98 to 1.11 — the highest since March 2025, indicating increasing confidence in the price increase trend. Currently, 52.69% of top traders are betting on the upside, while only 47.31% hold Short positions. It can be seen that the bull camp is gradually gaining the upper hand in the market.
However, traders seem to be using strong leverage at key price levels. Specifically, Long positions worth $9.73 million have been accumulated around the $7.56 area, creating a relatively fragile support layer.
On the contrary, Short orders with a total value of $6.24 million are concentrated at the $8.24 mark, forming a clear and direct resistance zone. This distribution shows that even a sufficiently large price movement — in either direction — could trigger a wave of mass liquidation.
Overall, the current Long positions are dominating compared to Short, reflecting the bull camp's market dominance and opening up the possibility of a further short-term price increase.
From a technical perspective, TRUMP has been in a declining channel since January 2025. However, the token has recently bounced from the lower boundary and is now gradually approaching the upper limit of the price channel.
According to Bitcoin Magazine's analysis, if TRUMP breaks through the $8.50 mark with a daily closing candle above it, the token could increase by 18% to reach $10.10. However, if it cannot break through this level, the likelihood of rejection and reversal is very high.
At the current moment, all eyes are on the $8.50 mark – a critical price zone that could determine whether TRUMP will make a strong breakthrough or continue to stagnate.
Disclaimer: The article is for informational purposes only, not investment advice. Investors should thoroughly research before making decisions. We are not responsible for your investment decisions.
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