Whale of a Time: TRUMP Coin Drama Unfolds! 🐋💸

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So, here we go again! The Trump-backed meme coin, Official Trump (TRUMP), is back in the news. Apparently, a brand new wallet just decided to withdraw 425,764 TRUMP tokens—worth a whopping $4.53 million—from Binance. I mean, who needs that kind of money, right? 🙄

This whole transaction is either a brilliant strategy or a classic case of “I’m outta here!” It’s like watching a bad sitcom unfold. And just when you thought it couldn’t get any crazier, SEC Commissioner Hester Peirce, aka “Crypto Mom” (because, of course, that’s a thing), drops a bombshell.

A newly created wallet withdrew 425,764 $TRUMP worth $4.53M from #Binance.

The wallet also withdrew 3,256 $SOL, worth $499k. Because why not? 🤷‍♂️

Address: 69P4RHz5Q41tY9nvu6H5C7dpys6n1YFPj7BDEZxBhYLQ

— Onchain Lens (@OnchainLens) May 31, 2025

SEC Bows Out: “No Protection” for Meme Coins

In a riveting interview at Bitcoin 2025, Peirce confirmed that the SEC is officially washing its hands of meme coin oversight. I mean, who needs regulations when you can just let chaos reign? 🙃

She made it clear that since the SEC doesn’t classify most meme coins, including TRUMP, as securities, investors should just go ahead and throw their money into the abyss. “Buy at your own risk,” she said. Thanks for the heads-up, Mom! 😅

Oh, and by the way, the Trump Organization and its buddies control 80% of the TRUMP token’s supply. So, you know, no big deal. Just a casual monopoly.

Critics, especially those pesky Democratic lawmakers like Sen. Richard Blumenthal, are raising eyebrows about ethical concerns. They’re suggesting this coin might just be a sneaky way for foreign and corporate interests to wiggle their way into the presidency. Because that’s exactly what we need! 🙄

Price Action: Bleeding Value and Bearish Technicals

Now, let’s talk numbers. On the 4-hour chart, TRUMP has plummeted to $10.75. The Bollinger Bands (BB) are practically screaming, “Help! We’re scraping the bottom!” with the price hovering around $10.58. Talk about a downward spiral! 📉

It’s so detached from the middle band (SMA 20 at $11.91) that it’s practically in another dimension. And the RSI (Relative Strength Index) is sitting at a cozy 30.57, flirting with the oversold boundary at 21.56. It’s like watching a train wreck in slow motion.

If this bearish sentiment keeps up, and no miracle happens, TRUMP might just revisit that psychological support at $10. And who knows? It could even dip to the next liquidity zone around $9.20–$9.50. Just what we need, right? More drama! 🎭

TRUMP 4H Chart | Source: TradingView

But wait! If the RSI drops further into the oversold territory (sub-25) and volume spikes, we might see a short-term bounce toward the mid-Bollinger band at $11.90. But don’t get too excited—resistance near $12.30 is lurking like a bad date, ready to ruin the fun.

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2025-05-31 18:49