TRUMP Token Plummets 10% after Hedge Trade Sparks Backlash

The TRUMP token experienced a significant decline of 10.75%, following the execution of a high-leverage short trade by WLFI advisor Ogle. This move, which was allegedly designed as a personal hedge, sparked criticism within the memecoin community despite Ogle’s claim of detachment from his affiliated firm. The resulting sell-off led to a surge in trading volume and social media mentions plummeting significantly. 10x leverage on a $2.71 million short position against TRUMP’s token further fueled this bearish sentiment, with liquidity concerns looming for the wallet holding the trade.