The crypto market is undergoing a significant decline, with increased trading activity.
Overview of the Crypto Market
The overall crypto market cap decreased by 7.30%, reaching $2.9 trillion. Despite the overall drop, 24-hour trading volume surged by 125% to $199 billion. Leading assets such as Bitcoin and Ethereum are also under pressure, with their prices falling below $89k and $2,300 respectively.
TRUMP Token Prospects
The TRUMP memecoin continues its downturn, down 82% from its all-time high. Over the past 30 days, the token has decreased by 55%, currently trading at $13.14, a 13% decline from the previous day. Trading volume increased by 140% to $1.52 billion.
Trader Losses and Future Forecasts
Amid the market crash, a trader lost about $24 million by swapping 763,582 TRUMP for 9.48M USDC. Technical indicators like MACD and RSI suggest TRUMP may continue to drop. The RSI is in oversold territory, indicating seller dominance. If the trend continues, TRUMP could fall towards the $10 mark.
The decline in the crypto market persists, and the TRUMP token continues to fall. Technical indicators show no sign of reversal, pointing to further price decreases.
