Solana-based Official Trump meme coin has come beneath robust promoting strain hours after Donald Trump posted about it on his social media platform Reality Social. The TRUMP value is down by 13% within the final 24 hours taking a dive beneath $20. On the weekly chart, the meme coin has misplaced greater than 33% whereas it’s down 70% from its all-time excessive of $75.
TRUMP Worth Crashes Below $20
With the onslaught of the bears, the TRUMP value is down greater than 13% to beneath $20. Additionally, the day by day buying and selling quantity has surged by 65% to greater than $3.4 billion as merchants transfer to dump it.
Moreover, the derivatives information from Coinglass exhibits that the TRUMP open curiosity has additionally slipped by greater than 13% to $720 million whereas the 24-hour liquidations have soared to greater than $15 million with $11 million in lengthy liquidations.
Purchase the Dip Alternative for TRUMP Traders?
After hitting the day by day low of $18.75, the TRUMP price bounced back and is presently buying and selling at $21.09. A number of market analysts imagine that it is a buy-the-dip alternative for crypto traders. Captain Faibik, a distinguished market analyst, has weighed on it.
“Shopping for the $TRUMP dip! The falling wedge continues to be in play, anticipating a powerful bounce again,” Captain Faibik on X said, pointing to the technical sample suggesting a attainable bullish reversal.
The falling wedge, usually seen as a precursor to cost breakouts, has fueled hypothesis that TRUMP may stage a major comeback. One other market analyst Edward Morra said that the TRUMP value bounced again from the right assist at $20. He additional added that he could be going lengthy on the altcoin from right here. “Went a bit deeper than I anticipated. Loaded up on TRUMP (common $21.5). Ideally, searching for a bullish reclaim above $25 for continuation,” he stated.
Donald Trump’s Try to Pump
With the TRUMP value crashing practically 70% from its all-time excessive, President Donald Trump took to social media to advertise his meme coin. “I LOVE $TRUMP!!” President Trump wrote in a Truth Social post asking customers to get again and purchase the meme coin.
Nonetheless, crypto trade gamers have criticized this transfer with SkyBridge Capital founder Anthony Scaramucci slamming the President. In a message on the X platform, Scaramucci wrote:
“President Trump posted on Reality Social final night time in an try and “pump” his $TRUMP memecoin (sure that’s an actual sentence that many have normalized). The outcome has been an acceleration of the “dump,” now down 70% from its peak. The jig is up”.
The Official Trump token has slipped to the fourth spot dropping on this newest fall, dropping the third spot to PEPE Coin. The broader crypto market is down today as Trump tariffs kick during which may result in one other main crash forward.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of economic markets. His curiosity in economics and finance has led him to give attention to rising Blockchain know-how and cryptocurrency markets. He’s dedicated to steady studying and stays motivated by sharing the data he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and sometimes explores his culinary expertise.
Disclaimer: The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
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