The price of the TRUMP token fell by 14% in the last 24 hours, reaching $13.08. This decline followed U.S. President Donald Trump's announcement about imposing high tariffs on Canadian and Mexican goods, which spurred a sharp increase in trading volume.
Market Situation: Causes and Effects
The recent decrease in the TRUMP token value came after Donald Trump's statement regarding upcoming high tariffs. At a joint press conference with French President Emmanuel Macron, Trump confirmed that 'the tariffs are going forward on time, on schedule.' This has created uncertainty among investors, leading to increased volatility.
Technical Analysis and Predictions
The TRUMP price chart shows a strong bearish trend, with price action declining within a descending wedge pattern. The breakdown from this wedge is often a bearish signal, but a rebound is possible if key support levels hold. If the RSI begins to move upward while the price remains steady or forms a bullish divergence, a recovery attempt may occur.
New Investor Interests: Meme Index
As TRUMP's value declines, investors are turning their attention to the new meme token Meme Index (MEMEX). This project offers diversification through indexes, simplifying portfolio management. Investors have already put more than $3.8 million into the presale.
The sharp drop in the TRUMP token price is linked to recent announcements by Donald Trump. Investors are showing interest in new projects such as Meme Index that offer unique diversification opportunities.
