TRUMP Meme Coin Falls Amid Trump's Speech

user avatar

by Giorgi Kostiuk

2 years ago

The recently launched TRUMP meme coin by pro-crypto United States president Donald Trump has caught attention with its impressive price surge. However, following Trump's inauguration speech, it faced a drastic price drop.

Launch of TRUMP and Its Rise

On January 18, 2024, during the Asian trading hours, Donald Trump made a post on X (formerly Twitter) to officially introduce the TRUMP meme coin. Following this announcement, the coin's price surged from $4 to $76.67, attracting significant interest from traders and investors.

Decline in TRUMP Price

Today, as Donald Trump's inauguration speech began, the meme coin's price started struggling and failed to hold its crucial support at $40. This could potentially lead to a fall to $30, especially if a daily candle closes below $40. Market sentiment indicates a potential price correction.

Current Market Dynamics

Currently, TRUMP is trading near $37, experiencing a price decline of over 38% in the past 24 hours. During this period, trading volume increased by 30%, indicating heightened participation from traders and investors. Market sentiment suggests a profit-booking scenario.

In summary, despite the initial success of its launch, the TRUMP meme coin has faced significant market challenges in the wake of political events, and analyzing future trends should consider current market volatility.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

Decrypt Revolutionizes News Consumption with Integrated Trading

Decrypt has integrated perpetual futures trading powered by Phoenix, allowing users to trade directly from the platform, enhancing the connection between news consumption and trading actions.

user avatarAndrew Smith

Arca Desktop App Now Open to Public for AI Session Monetization

The Arca desktop app has launched to the public, allowing users to monetize their AI session data.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.