TRUMP Memecoin Down 90% From ATH—Whales Shrugging and Dropping Another $5.6M

Memecoins are getting wrecked harder than a DeFi protocol on a Monday morning. The sector's total market cap fell from $83 billion to $31 billion this year. Trading volume? Down from $17 billion to $3 billion. It's a bloodbath out there.

Political memecoins took the worst of it. Official Trump ($TRUMP) sits 90.4% below its all-time high. Brutal. But here's the thing—whales are still buying like it's a clearance sale at a liquidation warehouse.

Lookonchain spotted two whales loading up ahead of Trump's luncheon. One picked up 850,488 $TRUMP for $2.4 million. Another bagged 1.13 million $TRUMP worth $3.2 million. That's $5.6 million in whale buys while everyone else is running for the exits like the building's on fire.

Spot Netflow stayed negative for three straight days, hitting -$1.49 million at press time. Strong exchange outflows mean buyers are withdrawing instead of selling. Historically, that's a setup that can stabilize prices—if demand holds up.

But there's a problem. Whale accumulation is a one-way street right now. Retail demand is weak. Futures traders keep selling. Over the past week, $547.9 million left futures while only $504 million came in. Futures Netflow cratered 64% to -$33.8 million. Over 30 days? More than $4.68 billion in outflows.

Derivatives selling is outpacing whale demand. The Momentum indicator confirms it—at -0.039, sellers are in control. Momentum might as well be wearing a "Closed for Business" sign.

If the trend continues, $TRUMP could drop below $2.7 and test $2.5 support. But sustained whale accumulation might shift sentiment. If demand picks up, $3 is in play. Maybe even $4. Optimism tastes better with a grain of salt.

The bottom line: Whale buying alone isn't enough. Recovery needs more players—retail and futures markets included. Even the biggest whales can't fill a pool by themselves.