TRUMP Meme Coin Plummets 13% Despite Trump’s Social Media Push

The meme coin has lost 33% on the weekly chart and is now 70% below its all-time high of 75. Daily trading volume surged by 65% to 3.4 billion as investors rushed to sell. Derivatives data from Coinglass reveals a 13% drop in open interest to 720 million, with 15 million in liquidations, including 11 million in long positions.

Is This a Buy-the-Dip Moment?

After hitting a daily low of 18.75, the TRUMP price rebounded slightly to 21.09, sparking debate among analysts about whether this is a buying opportunity. Captain Faibik, a prominent crypto analyst, highlighted a falling wedge pattern, often seen as a bullish indicator, suggesting a potential price recovery.

“Buying the TRUMP dip! The falling wedge is still in play, expecting a strong bounce back,” Faibik stated on X (formerly Twitter).

Another analyst, Edward Morra, noted that the price bounced from a key support level at 20, adding, “Loaded up on TRUMP (average 21.5). Ideally, looking for a bullish reclaim above 25 for continuation.”

Key Points:

• The falling wedge pattern signals a potential bullish reversal.
• Analysts see 20 as a critical support level.
• A break above 25 could trigger further gains.

Trump’s Failed Pump Attempt

Donald Trump’s attempt to boost the TRUMP memecoin on Truth Social backfired, with the token continuing its downward spiral. In a post, Trump wrote, “I LOVE TRUMP!!” urging supporters to buy the coin. However, the promotion drew criticism from industry leaders.

Anthony Scaramucci, founder of SkyBridge Capital, criticized the move, stating, “President Trump posted on Truth Social last night in an attempt to ‘pump’ his TRUMP memecoin… The result has been an acceleration of the ‘dump,’ now down 70% from its peak.”

The TRUMP token has slipped to fourth place among meme coins, losing its third spot to PEPE Coin. The broader crypto market also faces pressure, with Trump’s proposed tariffs adding to the uncertainty.

Despite Trump’s promotional efforts, the TRUMP memecoin remains under heavy selling pressure. While some analysts see a potential recovery, the token’s future hinges on broader market trends and investor sentiment. For now, the meme coin’s volatility serves as a cautionary tale in the unpredictable world of cryptocurrency.