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TRUMP Coin Tanks 13%—Even Donald Trump Couldn’t Save It

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By Aggregated - see source on February 3, 2025 Bitcoin
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Este artículo también está disponible en español.

Remember the TRUMP meme coin that soared to over $5 billion market value immediately after President Donald Trump took his oath? Well, it’s currently on a downtrend. It’s trading slightly above $17, down nearly 18% from its previous day’s close.

The token’s latest price action came when President Trump took matters into his own hands and shared a post about the token on Truth Social.

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On its weekly chart, TRUMP is down 35% and 70% from its all-time high, suggesting a bleak outlook for its holders and investors.

TRUMP down in the last 24 hours. Source: CoinMarketCap

It’s Going Down For TRUMP Holders

The broader crypto industry is in the red right now, led by Bitcoin, which has dropped to $95k. Other cryptocurrencies are suffering in the current market, but the $TRUMP token gets special mention for its unique circumstances.

It was reported that the token’s crash happened right after the President shared a post on his Truth Social account. Also, his administration has been fending off criticisms after announcing the new tariff policy.

BTC is now trading at $95,264. Chart: TradingView

Immediately after the post went public, TRUMP’s price dipped by more than 13%, dropping below $20. The token enjoyed a huge run two weeks ago, hitting an all-time high of $73.43. Also, data suggests that trading volume for the asset has increased by 65%, valued at $3.4 billion, as holders move to sell.

TRUMP Is Highly Volatile, Holders Contemplate Next Move

After hitting a low of $18.75, the token made a few gains to trade above $21. However, it is back at the $17 level, suggesting that it’s currently highly volatile and testing the patience of most traders and holders.

Source: Coinglass

According to Coinglass’ derivatives data, TRUMP’s open interest has decreased by over 13% to $720 million, while 24-hour liquidations have increased to over $15 million, with long liquidations totaling $11 million.

For many experienced traders, the token’s brief dip below $20 is a buying opportunity. Captain Faibik, a popular crypto analyst, has joined the conversations suggesting to “buy the dip.” According to Faibik, the token’s falling wedge is still active, and he expects a strong recovery from it.

Buying the $TRUMP dip!

Falling wedge is still in play, expecting a strong bounce back..#Crypto #TRUMP #TRUMPUSDT pic.twitter.com/s1juQeskgY

— Captain Faibik (@CryptoFaibik) February 2, 2025

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A Trump Pump And A Possible Bounce Back?

In crypto, the falling wedge often indicates a potential price breakout. Many $TRUMP holders are using this chart to argue that a surge for this token is happening soon.

Crypto expert Edward Morra also shared his thoughts, saying that the token has recovered from the $20 level and predicted it’s now on the way up. He admitted that $TRUMP went deeper than expected, but he shared that he bought the dip and is now looking at its bullish potential.

Over at Truth Social, President Trump shared a post in support of his token, an obvious ploy on marketing. However, many observers criticized this move from the president, saying that the “pump” may soon lead to a “dump”.

Featured image from Pexels, chart from TradingView



Credit: Source link

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