A senior executive at World Liberty Financial (WLFI) has made headlines by shorting the TRUMP memecoin, intensifying the ongoing rivalry between two major crypto projects linked to the Trump brand. This move comes amid a wave of bearish sentiment and heightened volatility across the crypto market, with both retail and institutional investors watching closely as the memecoin struggles to hold the crucial $10 price level .
Why Did a WLFI Exec Short TRUMP?
Ogle, an advisor to the Trump family-backed DeFi project WLFI, reportedly opened a $2.71 million short position with 10x leverage against the TRUMP memecoin. His liquidation price sits at $12.489, while the token has already dropped below $10. Ogle defended his position as a risk-hedging strategy, emphasizing that WLFI and the TRUMP memecoin are entirely separate projects, despite public confusion .
“How do folks still not know that the Trump meme token project is different from the World Liberty Financials one? Anyway, in times of uncertainty, you hedge.”
Rising Tensions Between Trump-Branded Crypto Projects
The rivalry between the TRUMP memecoin team (also known as Fight Fight Fight) and WLFI has escalated in recent weeks. The TRUMP team’s launch of a controversial Trump crypto wallet prompted WLFI to send a cease and desist letter, further fueling the feud . This dispute has led to a slight decline in TRUMP holder conviction, with Dune Analytics showing a 0.04% drop in holders over the past day and a 0.17% decrease over the past month .
Market Impact: Bearish Sentiment and Key Price Levels
The TRUMP memecoin has fallen 40% from mid-May highs of $16 to below $10, with its 12-hour RSI entering oversold territory for the first time since April. CoinGlass data highlights $10 as a critical liquidity level, with a $20 million pool that could attract price action if sentiment improves. However, open interest in TRUMP futures has halved from over $800 million in May to $400 million in early June, signaling caution among traders and reinforcing the bearish outlook .
Broader Crypto Market Under Pressure
The turbulence in Trump-linked tokens comes as the wider crypto market faces macroeconomic and political headwinds. Bitcoin recently dipped below $100,000, triggering nearly $1 billion in leveraged position liquidations—mostly from long traders. The Crypto Fear & Greed Index has slipped further into “fear” territory, and capital outflows from BTC ETFs have accelerated. Despite this, Bitcoin’s open interest remains robust, suggesting that risk appetite persists among derivatives traders, even as spot markets remain cautious .
What’s Next for TRUMP and WLFI?
With the TRUMP memecoin hovering around the $10 mark and open interest declining, the next few days could be pivotal. If the $10 liquidity pool attracts buyers, a short-term bounce is possible. However, continued bearish sentiment and unresolved tensions between the Trump-branded crypto teams could keep pressure on prices.
For those tracking the intersection of politics and crypto, the ongoing drama between WLFI and the TRUMP memecoin offers a front-row seat to how market sentiment, insider moves, and regulatory uncertainty can collide in real time.
