Whale Buys 600K TRUMP Tokens Amid Bearish Trend

Market observers are closely watching the performance of TRUMP tokens after a significant whale purchase. On November 27th, a large entity withdrew 600,529 TRUMP tokens worth $1.71 million from Bybit. This transaction has sparked renewed interest in the token, which has been struggling with a bearish trend since October.

The memecoin's price action has been influenced by reduced whale participation and aggressive selling pressure. According to CryptoQuant's Spot Average Order Size data, large whales have not placed significant orders over the past week, indicating that they are largely absent from the market. Despite this, some investors remain optimistic about TRUMP's potential for a comeback.

However, the bearish structure remains intact, with bears in control of the market. The Stochastic Momentum Index (SMI) has remained within negative territory and made another bearish crossover within this zone, signaling the likelihood of trend continuation. If the downward momentum persists, TRUMP's price may drop towards $2, with $1.5 as critical support.