Keep in mind the TRUMP meme coin that soared to over $5 billion market worth instantly after President Donald Trump took his oath? Nicely, it’s at present on a downtrend. It’s buying and selling barely above $17, down almost 18% from its earlier day’s shut.
The token’s newest value motion got here when President Trump took issues into his personal palms and shared a put up in regards to the token on Fact Social.
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On its weekly chart, TRUMP is down 35% and 70% from its all-time excessive, suggesting a bleak outlook for its holders and traders.
It’s Going Down For TRUMP Holders
The broader crypto trade is within the crimson proper now, led by Bitcoin, which has dropped to $95k. Different cryptocurrencies are struggling within the present market, however the $TRUMP token will get particular point out for its distinctive circumstances.
It was reported that the token’s crash occurred proper after the President shared a put up on his Fact Social account. Additionally, his administration has been heading off criticisms after saying the brand new tariff coverage.
Instantly after the put up went public, TRUMP’s value dipped by greater than 13%, dropping under $20. The token loved an enormous run two weeks in the past, hitting an all-time excessive of $73.43. Additionally, information means that buying and selling quantity for the asset has elevated by 65%, valued at $3.4 billion, as holders transfer to promote.
TRUMP Is Extremely Risky, Holders Ponder Subsequent Transfer
After hitting a low of $18.75, the token made a couple of good points to commerce above $21. Nonetheless, it’s again on the $17 degree, suggesting that it’s at present extremely risky and testing the persistence of most merchants and holders.
In response to Coinglass’ derivatives information, TRUMP’s open curiosity has decreased by over 13% to $720 million, whereas 24-hour liquidations have elevated to over $15 million, with lengthy liquidations totaling $11 million.
For a lot of skilled merchants, the token’s transient dip under $20 is a shopping for alternative. Captain Faibik, a preferred crypto analyst, has joined the conversations suggesting to “purchase the dip.” In response to Faibik, the token’s falling wedge remains to be energetic, and he expects a powerful restoration from it.
Shopping for the $TRUMP dip!
Falling wedge remains to be in play, anticipating a powerful bounce again..#Crypto #TRUMP #TRUMPUSDT pic.twitter.com/s1juQeskgY
— Captain Faibik 🐺 (@CryptoFaibik) February 2, 2025
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A Trump Pump And A Attainable Bounce Again?
In crypto, the falling wedge usually signifies a possible value breakout. Many $TRUMP holders are utilizing this chart to argue {that a} surge for this token is occurring quickly.
Crypto knowledgeable Edward Morra additionally shared his ideas, saying that the token has recovered from the $20 degree and predicted it’s now on the best way up. He admitted that $TRUMP went deeper than anticipated, however he shared that he purchased the dip and is now its bullish potential.
Over at Fact Social, President Trump shared a put up in help of his token, an apparent ploy on advertising. Nonetheless, many observers criticized this transfer from the president, saying that the “pump” might quickly result in a “dump”.
Featured picture from Pexels, chart from TradingView
