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

Metaplanet Shows Liquidity Management with Strategic Bitcoin Transactions

Metaplanet sold 10,000 BTC for approximately $790 million and bought back 11,000 BTC for around $950 million, demonstrating its ability to manage liquidity effectively.

user avatarSon Min-ho

Navra Secures $19 Million in Series A Funding to Bridge Traditional Finance and Blockchain

Navra, a startup led by Mike Cagney, has successfully raised $19 million in Series A funding to enhance access to blockchain-based financial markets for traditional investors.

user avatarZainab Kamara

Arbitrum Proposes Strategic Initiative for USDG Stablecoin

Arbitrum has proposed a governance initiative to back USDG as a core strategic stablecoin within its ecosystem, including adding 100 million ARB to enhance liquidity and adoption.

user avatarTando Nkube

BitGo and HashKey Cloud Expand Partnership in Asia-Pacific

BitGo and HashKey Cloud have expanded their partnership to cover multiple areas of institutional crypto infrastructure, including staking, trading, custody, and asset tokenization in Singapore.

user avatarAyman Ben Youssef

Winklevoss Asset Services Submits S1 for Zcash ETF

Winklevoss Asset Services has filed an S1 registration statement with the SEC for the Winklevoss Zcash ETF, aiming to provide direct exposure to ZEC.

user avatarKofi Adjeman

Kraken Pro Launches PreIPO Challenge for Oura and Moonshot Perpetual Futures

Kraken Pro has launched a trading competition for perpetual futures linked to Oura and Moonshot, running from October 6 to November 6, with a $10,000 prize pool based on trading volume.

user avatarNguyen Van Long

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.