Official Trump memecoin surges 10.2% to $3.06 before retreating

  • Official Trump [TRUMP] climbed 10.2% before retreating after GOLD-related sentiment reversed.
  • $13.57 million in positions were liquidated, including over $8.4 million in longs.
  • TRUMP’s Open Interest fell 6.4% to $279 million while derivatives volume rose 23%.

Official Trump [TRUMP] rose 10.2% to break the $3 resistance level and reach $3.06 before giving back the gains, falling to $2.6 and later recovering to $2.7. The rally followed investor confusion over the recently launched GOLD token, which some believed represented a TRUMP 2.0 project. Sentiment turned after the team behind GOLD was accused of a rug pull (an abrupt project abandonment that drains investor funds). Lookonchain reported that 15 wallets sold their GOLD holdings and exited with more than $312,000 in profit. Derivatives markets recorded more than $13.57 million in liquidations, including over $8.4 million in long positions and more than $5.1 million in shorts. CoinGlass data showed $1.44 billion in futures outflows against $1.38 billion in inflows, sending futures netflow down 5,614% to negative $68 million. Open interest, which measures the value of outstanding futures contracts, fell 6.4% to $279 million, while derivatives volume rose 23% to $3.3 billion. Spot-market flows also turned positive on Aug. 29 after five consecutive days of negative netflow, reaching about $4.5 million and indicating that more TRUMP was moving to exchanges for potential sale. Selling pressure on both spot and futures markets threatens the uptrend, although momentum indicators remain bullish. The Relative Strength Index (RSI), a momentum gauge, stood at 73, while TRUMP remained above its short- and long-term moving averages. If buyers absorb the pressure, the token could reclaim $3 and challenge $3.6; sustained selling could push it below $2.7 toward support at $2.2.

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