TRUMP Coin Crash? Fail to Hold Support
Official Trump (TRUMP), the meme coin recently launched by US pro-crypto President Donald Trump, has made waves with its impressive price performance. However, today, January 20, 2024, as Trump began his inauguration speech, the Trump meme coin failed to hold its key support and is now poised to drop significantly in price.
On January 18, 2024, during the Asian trading session, Trump posted on X (formerly Twitter) and introduced his official meme currency, TRUMP, to the world. Following the post on X, Trumpcoin attracted significant interest from traders and investors, causing the meme coin to surge from $4 to $76.67.
TRMUP coin drop
But today, memecoin prices have been struggling and experiencing price declines since the Asian trading session. The meme coin failed to hold key support at $40 as Donald Trump’s speech began.
Trump could fall to $30
After this breakdown, Trump appears bearish and seems poised to drop to the next support level at $30. Based on recent price action, if the TRUMP Meme token closes daily below $40, a drop to $30 is very likely.
The market sentiment for meme coins seems to be a profit-booking scenario for investors.
Current Price Momentum
At press time, TRUMP was trading near $37, with the price down more than 38% in the past 24 hours. During the same period, its trading volume increased by 30%, indicating increased participation from traders and investors.
