The official Trump (TRUMP) memecoin is facing significant selling pressure from large holders, with several whales exiting their positions at substantial losses. According to data from Arkham, one whale recently sold their entire TRUMP holdings after holding for eight months, depositing 437,000 TRUMP tokens worth $2.35 million into Binance. These tokens were originally purchased for $4.7 million, resulting in a realized loss of $2.35 million, or 50%.
This whale activity reflects a broader trend of eroding conviction among large holders. The Whale Buy Activity Indicator on TradingView shows no significant whale purchases for six consecutive days, while the Whale Trend Analysis metric indicates consistent selling over the past 11 days. Whales have not made any significant accumulation since October 2025.
Technically, TRUMP remains trapped inside a descending channel after topping near $9.5 two months ago. At press time, it traded near $5.4, failing to reclaim the $5.6 level. The price remains below the 50, 100, and 200 Exponential Moving Averages (EMAs), with the Directional Movement Index showing a negative index near 30, above the positive index near 21, indicating strengthening downside control. Analysts suggest that if distribution persists, TRUMP could revisit the 20 EMA near $5.2, with a breakdown potentially exposing the $5.0 zone and even $4.6.
This weakness in meme-driven assets coincides with a reported market shift toward utility-first tokens. The article highlights DeepSnitch AI (DSNT) as an example, which has surged over 120% in recent months and raised over $1.1 million in its presale, with its token price at $0.03334. This is contrasted with the fading momentum of memecoins like TRUMP and Pepe (PEPE), the latter of which has dropped about 15% and printed five consecutive red days after a recent 72% surge.
The shift is further underscored by traditional finance developments. Nasdaq and CME Group have partnered to launch the Nasdaq-CME Crypto Index, rebranding the Nasdaq Crypto Index (NCI) to track a basket of major cryptocurrencies including Bitcoin, Ether, XRP, Solana, Chainlink, Cardano, and Avalanche. Nasdaq stated this index-based approach mirrors the evolution in traditional asset classes toward broad market exposure over single-asset bets.
