Trump Official (TRUMP), the coin recently launched by pro-crypto US President Donald Trump, is making waves thanks to its impressive prices. However, today, January 20, 2024, as Trump began his inauguration speech, the TRUMP meme coin failed to retain its crucial support and is now poised to experience a massive price drop.
On January 18, 2024, during trading hours in Asia, Trump posted a message on X (formerly Twitter) and introduced the world to his official meme coin, TRUMP. Following the post on
Fall of TRMUP coins
But today, since the trading hours in Asia, the price of the same coin is in trouble and has seen a price drop. At the start of Donald Trump’s speech, the meme coin failed to hold its crucial support at $40.
TRUMP could fall to $30
Following this breakdown, TRUMP appears bearish and appears poised to fall to its next support at $30. Based on recent price action, if the TRUMP meme coin closes a daily candle below $40, there is a good chance it could fall to $30.
Market sentiment towards the meme coin appears to be a profit-booking scenario for investors.
Current Price Dynamics
At press time, TRUMP is trading near $37 and has seen a price drop of over 38% in the past 24 hours. During the same period, its trading volume increased by 30%, indicating increased participation from traders and investors.