Crypto Whale Swaps $5 Million USDC for 630,000 TRUMP Tokens via Fresh Addresses – Is a Bull Run Imminent?

A significant cryptocurrency investor has executed a notable transaction, converting $5 million worth of USDC into 630,000 TRUMP tokens through newly created wallets. This move has sparked speculation among market participants about a potential bullish trend for the TRUMP token. The use of fresh addresses suggests strategic positioning, possibly indicating confidence in the asset’s future performance. Analysts are closely monitoring the situation to assess whether this could signal broader market momentum or a targeted play on the token’s prospects.

Whale buys $5M in TRUMP tokens

Recently, blockchain transaction tracker Lookonchain posted on X (formerly Twitter) that two crypto wallets, likely belonging to the same whale, spent $5 million USDC to buy 660,339 TRUMP tokens at an average price of $7.93.

This substantial purchase was made when the TRUMP price was hovering around its crucial support level of $7.60. Naturally, this hefty buy turned heads.

Following the transaction, TRUMP recorded a 2% price surge, trading near the $8.05 mark at press time.

This spike comes at a time when major assets like Bitcoin [BTC], Ethereum [ETH], and Solana [SOL] are struggling to gain momentum.

Traders’ bets on the long side skyrocket 

This transaction has not only created buying pressure and upward momentum in TRUMP’s price but has also shifted trader sentiment, as reported by on-chain analytics firm CoinGlass.

Reportedly, TRUMP’s Long/Short Ratio spiked from 0.98 to 1.11—the highest since March 2025. At press time, 52.69% of top traders held long positions, while 47.31% remained short. Clearly, bulls were gaining control.

Source: CoinGlass

Liquidation levels show over-leveraging at both ends

However, traders appeared heavily leveraged at key levels. Long positions worth $9.73 million had stacked up around $7.56, marking a fragile support zone.

Meanwhile, $6.24 million in shorts were sitting at $8.24, forming immediate overhead resistance. These positions suggested that any sharp move—up or down, could trigger a cascade of liquidations.

Source: CoinGlass

Thus, the number of traders betting on the long side was significantly higher than those betting on the short side. It also indicates that bulls are currently dominating the asset and could drive an upside move soon.

Technical analysis and upcoming levels

From a technical lens, TRUMP has been in a bearish descending channel since January 2025. That said, it recently bounced from the lower boundary and now inches toward the upper limit.

Source: TradingView

According to AMBCrypto’s analysis, if TRUMP breaks above $8.50 with a daily candle close, it could rally 18% to hit $10.10. However, failure to breach that level might spark a rejection—and a quick reversal.

For now, all eyes remain on $8.50—a make-or-break zone that could decide whether TRUMP goes parabolic or stalls again.