When President Donald Trump announced an exclusive dinner

After an explosive surge, TRUMP has entered a period of decline

President Donald Trump announced an exclusive dinner for the top holders of the Official Trump [TRUMP] token, commonly known as "whales" due to their massive holdings in the cryptocurrency space. In response to the upcoming event, whales are massively accumulating the memecoin, pushing its price to a peak of $16.43.

However, the initial frenzy of accumulation now appears to be losing steam, with TRUMP entering a period of decline after an explosive surge. The token has been trading within a descending pattern for six consecutive days as market sentiment shifts and whales begin to exit the scene.

According to on-chain tracker @ai_9684xtpa, the top five whales on Trump’s dinner guest list have transferred a large sum of their holdings, 126,000 TRUMP tokens, onto Bybit, a popular cryptocurrency exchange. The tokens, valued at $1.64 million at the time of transfer, were initially acquired at an average price of $13.02. These whales are now planning to sell at $9.71, aiming to make a profit of around $420,000.

In crypto markets, whale activity on exchanges is often seen as a bearish signal, especially when considering the scale of these sales and the potential selling pressure they can generate. If these holders proceed with their planned exit, it could push TRUMP’s price lower, particularly if other buyers fail to step in and absorb the selling volume.

This bearish outlook is further supported by the current market conditions. TRUMP Token is facing significant downward pressure as sellers outpace buyers. The order delta, which tracks the difference between buy and sell orders, has turned negative, indicating that more sell orders are being executed than buy orders, a classic sign of increasing bearish sentiment.

This negativity is also evident in the memecoin’s technical indicators. TRUMP Token recently experienced a bearish crossover on its Relative Strength Index (RSI), a signal that typically suggests the growing influence of sellers. This bearish shift is backed up by a previous bearish crossover observed in the Stochastic Oscillator, further validating the expectation of continued downward pressure.

As whales exit and selling pressure increases, TRUMP’s price could experience further declines. The memecoin’s immediate support level is around $11.40. If this level fails to hold, the next critical support zone is at $9.20, which could put the token at risk of falling below the psychologically important $10 mark.

The only factor that could reverse this bearish trend is a change in whale behavior. If these large holders decide to re-enter the market and accumulate TRUMP once again, it could create upward pressure and shift the sentiment toward bullishness. However, for now, it seems more likely that TRUMP will continue its descent as selling activity remains strong.

Overall, TRUMP Token is currently passing through a turbulent phase, with whales planning to cash out and market sentiment becoming increasingly bearish. Investors will need to keep a close eye on the next few days to see if the token can hold its support or if further selling will push it to new lows.