Will retail investors holding TRUMP shares sell off $70 million worth of shares, causing the price to plummet to record lows?

The official price of Trump (TRUMP) is currently trading at $3.21, down 1.32% on the day, after losing almost all of its 49.65% gain that peaked on March 13, 2024.

Currently, the Token is only 3.2% above its All-Time-Low of $2,705, and two on-chain signals confirm that sellers are still in control.

TRUMP coin is listed on an exchange.

Token balance data from Glassnode shows thatTrump investors poured a large amount of Token onto exchanges when prices surged in mid-March 2024. Balances fluctuated around 15 million Token from March 7th to 9th, then skyrocketed to approximately 41 million on March 14th.

This surge of nearly 26 million Token — listed on the exchange at a price around $4 — represents approximately $104 million in selling pressure at the peak. Within just 24 hours of that peak, the balance plummeted to 19.5 million Token as the sell-off was absorbed and the price reversed sharply downwards.

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Since March 15, 2024, the Token balance on exchanges has stabilized around 18.5 million. However, this level is still significantly higher than the Dip point reached in early March 2024, indicating that selling pressure has not been completely resolved.

Cash flow fell to its second-lowest level since February 2024.

Despite the rapid increase in TRUMP shares being listed on exchanges , the Chaikin Money Flow (CMF) indicator best reflects the situation. The CMF dropped to -0.26 at the beginning of March 2024 and then recovered to near zero on March 13, 2024 — precisely when the price surged.

But this recovery didn't last long. The CMF then fell back to -0.14, the second lowest level since February 19, 2024. The indicator has failed to maintain any positive territory since its slight increase to +0.04 on February 25, 2024.

The CMF indicator at -0.14 suggests significant Capital outflow. For selling pressure to ease, the CMF needs to recover above 0 and hold steady — something the indicator has failed to do for almost a month.

TRUMP Price Forecast: Record Lows Could Be the Next Target

The price of TRUMP has fallen 20.61% from its peak on March 13, 2024, at around $4.04, currently standing at $3.21. According to technical analysis, the price could continue to fall by another 15.76%, heading towards the $2.71 region, the previous all-time low.

The price is currently below the Fibonacci 1.0 level at $3,309, which has become a new resistance zone. The Fibonacci 1.236 level at $2,941 will be the next support before retracing to the historical Dip of $2,705.

If the closing price for the day falls below $3.00, this will be the last psychological support zone before a return to record lows. The Mar-a-Lago party for holder in March 2024 was a catalyst for the price surge, but the effect of that event has now worn off.

To break the current negative trend, Trump buyers need to push the price back above the $3,642 mark — which is the 0.786 Fibonacci level — and maintain the daily close above it. Without further strong momentum, the next target would be the all-time low of $2,705.