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Remember the Trump -Meme -Munt that jumped past $ 5 billion market value Immediately after President Donald Trump took his oath? Well, it’s currently on a downward trend. It is traded slightly above $ 17, almost 18% fall compared to the end of the previous day.
The newest prize action of the token came when President Trump took matters into his own hands and shared a message about the token Truth Social.
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Trump is on his weekly graph 35% fall And 70% compared to his all time, which suggests a gloomy prospect for his holders and investors.
It’s going down for Trump holders
The wider crypto industry is now in red, led by Bitcoin, which has fallen to $ 95k. Other cryptocurrencies Suffering on the current market, but the $ Trump -Token gets special mention for its unique circumstances.
It was reported that the Token’s crash happened immediately after the president shared a position about his social account. His administration also rejected criticism after announcing the new rate policy.
Immediately after the mail was made public, the price of Trump fell by more than 13%and dropped below $ 20. The token enjoyed a huge run two weeks ago and reached a record high of $ 73.43. Data also suggest that the trade volume for the active has increased by 65%, with a value of $ 3.4 billion, while holders are moving to sell.
Trump is very volatile, holders consider the next movement
After reaching a low point of $ 18.75, the token achieved a few profit to trade above $ 21. However, it is back at the level of $ 17, suggesting that it is currently very volatile and the patience of most Testing traders and holders.
According to the data of Coinglass’ Derivaten, Trump Open interest has been taken With more than 13% to $ 720 million, while 24-hour liquidations have risen to more than $ 15 million, with long liquidations of a total of $ 11 million.
For many experienced traders, the short dip of token below $ 20 is a buy option. Captain Faibik, a popular crypto analyst, has joined the conversations that suggest ‘buy the dip’. According to Faibik, the falling wedge of token is still active and expects a strong recovery from it.
Buying the $ Trump Dip!
Falling Wedge still plays in the game and expects a strong resignation.#Crypto #Troet #Trumpusdtt pic.twitter.com/s1juqeskgy
– Captain Faibik
(@Cryptofibik) February 2, 2025
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A Trump pump and a possible jumping back?
In Crypto, the falling wedge often indicates a potential price drop. Many $ Trump holders use this graph to claim that there will soon be an increase in this token.
Crypto expert Edward Morra also shared his thoughts and said that token has recovered from the level of $ 20 and predicted that it is now on the way. He admitted that $ Trump went deeper than expected, but he shared that he bought the dip and now looks at his bullish potential.
At Truth Social, President Trump shared a function to support his token, an obvious trick about marketing. Many observers, however, criticized this step from the president and say that the “pump” can soon lead to a “dump”.
Featured image of Pexels, Graph of TradingView
