Whales have started accumulating the Official Trump ($TRUMP) token even as its price has continued to move downwards.
According to recent data shared by Nansen, a blockchain analytics company, large holders of the $TRUMP token have quietly increased their positions. This accumulation happened during a period when the token’s price fell from about $3.45 to around $2.90.
The data showed that in the last seven days the assets’ whale-controlled supply increased from 3.9 million tokens to 4.54 million tokens. This number represents a 13.48% rise in whale holdings during a week when the memecoin general market volume was weak.
Source: Nansen (X)
It also revealed that despite the drop in price, many large holders connected to the token added more to their portfolios. Most of these wallets already hold significant balances, yet they still expanded their positions during the downturn.
One wallet identified as High Balance [3B7XAQrL] currently holds about 2.19 million $TRUMP tokens. The wallet has an estimated average cost of $7.32 per token, meaning the total assets they hold are down by around 60%.
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Even with this large unrealised loss, the wallet still added about 253,000 $TRUMP tokens during the past week. This move suggests that the holder may believe the current lower price presents an opportunity to accumulate more tokens.
Another notable wallet labelled SOL Millionaire [CreQJ2t9] has also been recorded to increase its holdings. This wallet reportedly has an average cost basis of about $9.92 per token. Despite the significant difference between the current price and its entry price, the wallet added another extra 104,000 tokens.
It is recorded that whale inflows have increased by about $786,000 during the same period, while centralised exchange balances declined by about 5.2 million $TRUMP tokens. Additionally, public figures associated with the token have reportedly reduced their holdings by about 11.57% during this same period.
Source: Nansen (X)
The cause of the constant whale purchases is currently unknown, although many on-chain signals have appeared together, giving analysts a broader view of what may be happening behind the scenes.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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