TRUMP whale dumps 2.2 mln tokens at a $398K loss: Price struggles below $3

The TRUMP memecoin has traded within a descending channel since a short-lived rally to $4.4 in early March.  Since then, the memecoin has fallen below $3 and established support around $2.8, where it hovered at press time. With the memecoin struggling to recover, investors, especially whales, have capitulated.  Whale dumps 2.2 million TRUMP for $6.29 million Whales who purchased Official Trump [TRUMP] memecoin for Trump's dinner are closing positions. Since mid-2025, whales have bought the TRUMP memecoin to gain access to the U.S. President.  In March, the memecoin rallied to $4.4 as whales increased their accumulation ahead of Trump's dinner. However, whales who bought since then seem to have reached the limit and have exited the market.  According to Arkham, the Trump dinner event leaderboard's top big brother deposited 2.2 million TRUMP worth $6.29 million to Binance. After the exit, the whale realized a $398K loss after a month of holding. The whale's decision to exit at a loss shows a lack of confidence in the market and, possibly, in the dinner tied to it.  Historically, whale sales have dragged down the Trump memecoin, driving prices lower. If the previous trend repeats, the memecoin will likely see further losses.  Sellers still dominate the market Besides the recent whale dump, the memecoin has faced massive selling pressure from all market participants. Looking at the Spot Taker CVD, this metric has remained red for almost 30 consecutive days. This suggests that sellers are dominating the market. In fact, every time TRUMP has attempted a move above $3, sellers have jumped in, with $2.9 and $2.8 as the dominant sell levels. In fact, the memecoin recorded 312 million in Sell Volume compared to 286 million in Buy Volume on Binance over the past month. This period saw a negative market delta of -13 million and a negative net buying of -190 million. Usually, when sellers dominate the market, the market weakens further, leading to price drops, as witnessed with TRUMP. Is $2.8 support at risk? With the market experiencing massive sell-side activity, TRUMP has failed to move above $2.8. As a result, the memecoin's momentum has remained negative since August 2025. The Momentum Shift indicator fell into the negative zone and has remained there for seven consecutive months, at around -0.39 at press time. Additionally, the Relative Strength Index (RSI) was at 45.72, further confirming this bearish pressure. With both whales and retail activity selling, the downside momentum remains strong, and TRUMP could see more losses. The continuation of the trend will see TRUMP breach $2.8 support and fall towards $2.5. For a trend reversal, the memecoin needs to flip $3 and target $4 for any significant gains. Final Summary A whale sold 2.2 million TRUMP worth $6.29 million, taking a $398k loss after one month. Official Trump faces strong selling pressure from all market participants, risking a dip below $2.8.