Trump's currency collapsed as whales sold millions of dollars after the failed dinner.

Two large whales sold off over $8.5 million worth of $TRUMP in a few hours, shaking investor confidence. According to Lookonchain, wallets 3kjP9L and 7X6Vun have exited $TRUMP at a significant loss. Together, they sold off 765,128 tokens, causing a total loss of $2.34 million. Both had previously made profits—but wiped out all gains and burned an additional $1.42 million in principal. This capitulation has spooked the market. Furthermore, the order flow shifted to bearish immediately after Trump's dinner event, leaving speculators disappointed. The bearish technical indicators confirm the risk shift. AlvaApp reports strong sell-offs followed by MACD bearish crossover and RSI dropping to single digits. As a result, the technical sentiment has shifted to strongly negative. Additionally, the influx of capital into exchanges has surged as wallets rush to send tokens. This trend aligns with the broader risk environment. Notably, liquidation data shows forced exit orders from over-leveraged positions. Therefore, the momentum currently favors the sellers. Moreover, Alva notes that whales have pursued performance too late. Many joined after the excitement related to Trump peaked. When prices broke through support levels, panic began. No large buyers stepped in to stabilize price action. Until such a reversal occurs, bearish pressure is likely to continue. Recoveries may happen, but sellers dominate the current structure. Ethical questions surrounding Trump's cryptocurrency relationships Meanwhile, scrutiny surrounding the cryptocurrency projects related to Trump is increasing. On his second day back in office, Trump dodged questions about his meme coin. "I hear it’s very successful," he joked. However, regulatory agencies and analysts highlighted deeper concerns. Entities connected to Trump are said to have earned over $300 million in transaction fees since January. Furthermore, another venture of Trump—World Liberty Financial—has announced a $2 billion cryptocurrency deal with a company in Abu Dhabi. Experts assert that this partnership could generate $27 million annually. Democrats and ethics experts warn of serious conflicts of interest. These developments cast a shadow over the legitimacy of the $TRUMP token.