Official Trump Price Hits New Low Amid Ongoing Sell Pressure

The Official Trump (TRUMP) cryptocurrency has seen a significant decline in its price, reaching a low of $3.21 on the latest trading data. This drop marks a continuation of the bearish trend that started after the token's rally peaked on March 13.

According to exchange balance data from Glassnode, TRUMP holders have been sending tokens to exchanges during the mid-March rally. The balances hovered near 15 million from March 7 to 9 before surging to approximately 41 million by March 14. This spike represents around $104 million in sell-side positioning at the peak.

The Chaikin Money Flow (CMF) indicator has also dropped back to -0.14, its second-lowest reading since February 19. A CMF reading of -0.14 indicates significant capital outflow, suggesting that selling pressure is still prevalent in the market.

A measured move projection suggests a further decline of approximately -15.76% from the current price, targeting the all-time low at $2.71. The next meaningful level before this target is the 1.236 extension at $2.941. A daily close below $3.00 would remove the last psychological floor before the all-time low territory.