The Trump Token has plummeted almost 90% from its record high set half a year ago, currently trading at $8.80, down 6% in the last week.
The project team withdrew $4.4 million in USDC and 347,438 TRUMP tokens from the main liquidity pool without explanation, raising concerns of a potential coin dump.
A significant wallet, Kewh32, has placed a $2.5 million sell order for 275,672 TRUMP tokens, further adding selling pressure to the struggling token.
Technical analysis indicates a potential falling wedge breakout but with weak trading volumes and bearish momentum, investor confidence remains low, signaling possible further price declines.