The TRUMP (CRYPTO: TRUMP) meme coin is down 22% over the past seven days, 16 days ahead of a gala dinner for some token holders.
What Happened: Despite the drop, on-chain data shows large holders moving tokens off exchanges, potentially a sign of longer-term positioning.
Blockchain data from Lookonchain showed two newly created wallets withdrawing a total of 2.39 million TRUMP tokens, valued at around $28 million, from Binance.
One of these wallets belongs to ‘MemeCore_ORG’, now sitting on a $2.8 million unrealized loss after their recent buys.
SpotOnChain shows 1 million TRUMP coins, worth $10.84 million, withdrawn from Binance, signaling strong buy-side interest.
These withdrawals reflect a growing interest in becoming a top TRUMP holder, with the top 220 wallets eligible for the dinner and added perks reserved for the top 25.
The token generated over $324 million in trading fees, with roughly 80% of the supply linked to Trump-affiliated wallets.
Also Read: Trump Meme Coin Draws Attention As Crypto-Focused Dinners Projected To Draw Millions
What's Next: Anonymous trader Optimus is watching for scalp or swing long setups around the $8.20–$8.35 range, though a small bounce could form near previous highs at $8.75.
Despite that, he's not fundamentally bullish and plans to exit longs quickly while continuing to favor short positions.
Trader HASANXBT flagged weakness after $TRUMP failed to reclaim supply zones. He sees downside toward the quarterly open at $10, with a break below opening clean short setups below $9.
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