Blockchain data shows heavy distribution across the Official Trump token, despite a short-lived increase in on-chain activity over the past week.
Nansen reported that between Jan. 3 and Jan. 5, daily trading volume spiked to $128-$147 million amid a broader meme market rally.
This is roughly three to four times the normal level. The move resulted in a price surge to $5.65.
However, price action has flattened since then. TRUMP is consolidating between $5.25 and $5.40, with no follow-through buying.
At the time of writing, the token trades around $5.34, down 93% from its all-time high of $75.
Selling Pressure Builds
Wallet behavior over the past 30 days shows that no Smart Money wallets have purchased TRUMP in the past month. At the same time, large holders continue to reduce exposure, according to Nansen.
Over the past week alone, exchanges recorded $24.4 million in TRUMP token inflows, about 1.6 times the average.
Top profit-and-loss traders offloaded $1.8 million in the meme coin, more than 10 times their normal rate. During this time, whale wallets also posted $747,600 in net outflow.
TRUMP briefly topped a $9 billion market cap last year after a massive multi-week surge. It has since fallen to around $1.06 billion, ranking 64th among cryptocurrencies by market cap.
MELANIA Rallies as Speculation Rotates
Meanwhile, MELANIA has seen renewed speculative interest. The Solana-based token surged 7% on Jan. 9 and is up 28% year-to-date.
The token currently trades around $0.150 with a market cap of $143 million.
MELANIA’s long-to-short ratio is currently above 2. This means that long positions now surpass shorts by more than two times.
The renewed attention comes as Amazon MGM Studios is set to release a documentary titled “Melania” later this month.
Despite the recent bounce, MELANIA remains 99% down from its $13.73 all-time high, set shortly after launch.
Like TRUMP, it debuted around President Donald Trump’s inauguration period and followed the same hype-driven pattern.
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.
