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

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

UK Financial Conduct Authority Opens Crypto Authorisation Regime

The UK Financial Conduct Authority has formally opened its Crypto Authorisation Regime, marking a significant development in the digital asset ecosystem.

user avatarMaria Gutierrez

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.