Meteora Buys TRUMP Memecoin as Binance Sells
Key Takeaways
Two major market players, Meteora and Binance, are currently pursuing opposing strategies with the TRUMP memecoin. While Meteora is buying in large quantities, Binance is offloading part of its holdings. At the same time, retail investors on Binance remain optimistic and are betting on rising prices. Market data suggests a potential upward movement, but in the short term, the direction remains uncertain.
Whale Conflict: Meteora Buys, Binance Sells
Over the past 24 hours, there has been a notable divergence between two so-called “whales” – players with large token holdings – in the TRUMP market. Meteora recorded a negative exchange netflow of USD 1.84 million in TRUMP tokens. This means tokens were withdrawn from exchanges, indicating purchases and bullish expectations. Meteora’s total TRUMP holdings now amount to approximately USD 121 million.
In contrast, Binance reported a positive netflow of USD 2.04 million – a sign of selling activity. Despite this reduction, Binance remains the second-largest TRUMP holder with a balance of USD 227 million.
Retail Investors on Binance Remain Optimistic
Despite Binance’s own selling activities, retail investors on the platform remain optimistic. This is evident from two key metrics:
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- Funding Rate: This metric indicates which side of the market – buyers or sellers – is paying the funding fees. It currently stands at 5.1%, meaning long positions dominate. Traders are predominantly betting on rising prices.
- Open Interest: The open interest in TRUMP futures on Binance is USD 95.41 million. This also points to increased trading activity and a growing number of open long positions.
This development is noteworthy, as retail investors often follow the moves of large market participants. In this case, however, they are taking their own path.
Technical Analysis: A Decision Point Approaches
A look at the liquidity distribution reveals significant liquidity zones both above and below the current price. These zones act like magnets and can trigger price movements. The market is therefore at a critical juncture.
From a technical perspective, TRUMP has recently broken out of a downward trend channel. This is a bullish signal. The next resistance lies at USD 8.729. If this level is breached, the price could move into the range between USD 10.707 and USD 12.364. Beyond that, price targets of USD 17 and USD 24 are also conceivable – provided the market environment remains stable.
Our Assessment
The opposing strategies of Meteora and Binance show how differently even major market players assess the situation. While Meteora is betting on rising prices, Binance is reducing its exposure. Retail investors on Binance are contradicting the platform’s strategy and remain bullish. Technically, there are signs of a continued upward trend – but only if key resistance levels are overcome.
For you as a trader or investor, this means: closely monitor price developments. Pay attention to the behaviour of the funding rate and open interest. These data points provide insights into market sentiment. In the short term, caution is advised, but in the medium term, an interesting entry opportunity could emerge.
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