Key Notes
- A whale withdrew $4.53M in TRUMP tokens from Binance amid a steep price decline.
- SEC Commissioner Hester Peirce confirmed the agency won’t regulate meme coins like TRUMP.
- Indicators show that TRUMP is bearish with oversold RSI and price hugging the lower Bollinger Band.
The Trump-backed meme coin, Official Trump (TRUMP), is once again in the spotlight with a fresh wallet, as revealed by Onchain Lens, withdrawing 425,764 TRUMP tokens—valued at approximately $4.53 million—from Binance,
The transaction hints at either a strategic repositioning or an impending dump. This comes amid a shocking statement from SEC Commissioner Hester Peirce, also known as “Crypto Mom” for her support of digital assets.
A newly created wallet withdrew 425,764 $TRUMP worth $4.53M from #Binance.
The wallet also withdrew 3,256 $SOL, worth $499k.
Address: 69P4RHz5Q41tY9nvu6H5C7dpys6n1YFPj7BDEZxBhYLQ pic.twitter.com/QxBTw94Uab
— Onchain Lens (@OnchainLens) May 31, 2025
SEC Bows Out: “No Protection” for Meme Coins
In an interview at Bitcoin 2025, Peirce confirmed the US Securities and Exchange Commission is washing its hands of meme coin oversight.
Peirce clarified that since the agency no longer classifies most meme coins, including TRUMP, as securities, investors should not expect any regulatory guidance or safety net.
“People, if you are expecting that there’s SEC protection around these, you should not expect that,” Peirce said. “Buy at your own risk.”
It is important to note that the Trump Organization and affiliated entities reportedly control 80% of the TRUMP token’s supply.
Critics, particularly Democratic lawmakers like Sen. Richard Blumenthal, warned of deepening ethical concerns, suggesting the coin may offer a backdoor for foreign and corporate interests to influence the presidency.
Price Action: Bleeding Value and Bearish Technicals
On the 4-hour chart, TRUMP has dropped significantly, now trading at $10.75. The Bollinger Bands (BB) indicate that the price is scraping along the lower band (currently around $10.58), signaling strong downward momentum and increased volatility.
The price is notably detached from the middle band (SMA 20 at $11.91), confirming that TRUMP is entrenched in bearish territory.
On the other hand, the RSI (Relative Strength Index) currently sits at 30.57, with previous dips brushing the oversold boundary at 21.56. This shows that TRUMP is nearing extreme oversold levels, which may trigger a temporary relief bounce.
If bearish sentiment persists, and no new catalyst emerges, TRUMP could revisit psychological support at $10, and potentially test the next liquidity zone around $9.20–$9.50, especially if selling pressure intensifies or the whale begins offloading tokens.
TRUMP 4H Chart | Source: TradingView
However, if the RSI drops further into oversold territory (sub-25) and volume spikes, a short-term bounce toward the mid-Bollinger band at $11.90 is possible. However, resistance near $12.30—a key breakdown zone—will likely cap any upward momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
