World Liberty Financial Short TRUMP operator – Will it hold the $10 level?

Official Trump (TRUMP) fell 10% on June 6 amid market volatility and bearish orders from the internal team of World Liberty Financials (WLFI).

! TRUMP 4 Hour Chart | Source: TradingviewAccording to data from Spot On Chain, Ogle – an advisor for the Trump family-backed DeFi project WLFI has opened a short TRUMP memecoin with up to 10x leverage (trị $2.71 million la).

Source: Spot On ChainAt the time of writing, the price of this memecoin has fallen below 10 dollars, while the liquidation price of Ogle is around 12.48 dollars.

Although Ogle's actions have raised many questions in the crypto community, he justified his actions as a way to "hedge risks," while emphasizing that TRUMP and WLFI are two completely different projects.

"Why are there still people who don't know that the Trump memecoin project is different from World Liberty Financial? Anyway, in times of instability, one must hedge."

Tensions between the two Trump team and WLFI

Ogle's statement further highlights the ongoing tension between the two teams related to the Trump family. Recently, the team developing the memecoin TRUMP (, also known as Fight Fight Fight), announced a controversial crypto wallet. The WLFI team is said to have sent a cease and desist letter to Fight Fight Fight regarding this wallet.

In the midst of the confrontation, investor confidence in the memecoin TRUMP has slightly decreased. Data from Dune Analytics shows that the number of TRUMP holders has fallen by 10% in the past 24 hours and decreased by 9% over the past month, reflecting a bearish sentiment since the dinner party.

Source: Dune AnalyticsOn the other hand, TRUMP has fallen 40% from the price of 16 dollars in mid-May, currently slipping below 10 dollars. In fact, the 12-hour RSI has entered the oversold zone for the first time since April.

Although this indicates a strong bearish sentiment, according to CoinGlass's liquidation map, the $10 level is an important threshold for the bulls to regain market advantage.

On the 7-day liquidation map, TRUMP has a high liquidity area of (~20 million dollars) around the price level of 10 dollars. This could attract price action and the price is likely to bounce back if market sentiment improves.

Source: CoinGlassHowever, since May, the open contract (OI) of this memecoin has fallen from over 800 million dollars to 400 million dollars at the beginning of June. The 50% drop in OI further strengthens the bearish sentiment in the futures market and could pull prices down lower if traders remain cautious.

Dinh Dinh