After its launch, Donald Trump’s official token created a buzz in the crypto market. However, the buzz soon settled, as the TRUMP memecoin price declined with rising volatility. It has continuously faced failures over recovery, resulting in investors’ fear of its crash. Some experts anticipate Trump’s token hitting a low of $5. Is this an imminent event? Let’s discuss.
TRUMP Memecoin Price Analysis & History
Donald Trump launched the TRUMP token just three days before his inauguration, becoming one of the top meme coins to buy. Soon, the TRUMP Meme coin surged as high as $70 on January 21 amid the hype surrounding Trump getting into power. However, sharp drops and significant fluctuations took over in a few days.
This changed its trajectory from bullish to bearish. During this period, FOTUS also launched her meme coin, MELANIA, which became a major hit and a restricting factor in TRUMP’s growth.
Once this phase ended, TRUMP’s value stabilized in the downtrend pattern. Today, the price has declined to $16.69 after a 5% drop in the last 24 hours and 43% over the week. Its trading volume has also declined 36% to $2.86B, showcasing decreasing investor interest. Interestingly, this trajectory entirely differs from what analysts anticipated by the end for the TRUMP and MELANIA memecoin price. The continuous downtrend seems more serious, as this could lead to a crash to the $5 mark.
Will Donald Trump’s Token Crash to $5?
Considering TRUMP’s current performance and turbulent market conditions, it would not be shocking to witness its fall to $5. The price charts highlight the 79% drop from the prime of $75.35; another 69.90% drop could push it to $5. Many crypto analysts predict a crash to $5 under the current situation’s resistance. However, whether this will happen in the next 15 days is uncertain.
In contrast, the crypto market’s bullish outlook could divert to an uptrend. Even Trump’s backing could fuel the recovery. Notably, Trump’s recent attempt failed, but the seller’s settlement may change the trajectory.
Factors That Could Lead To Trump Memecoin Price Crash
The current condition and the macroeconomic events are influencing digital asset prices, where the biggest crypto, Bitcoin price struggled. Although it briefly reclaimed the $100k mark, the negative sentiments dominate the market. The same is true for Donald Trump’s crypto, but additional factors are putting downward pressure, such as –
Strong selling pressure: The 43% drop in the last few days and the continuity of the downtrend despite Trump’s efforts indicate strong selling sentiments among investors.
Critics’ Concern: Crypto investors were joyful about the launch of the TRUMP token, but critics and political leaders found the president’s association with a volatile asset unsettling. This is a rising concern among netizens.
Ethics and Conflict of Interest: Most traders currently face heavy losses in TRUMP memecoin. However, Trump-affiliated entities like CIC Digital and Fight Fight Fight made $100M in trading fees, raising ethical questions.
Broader Market Crash: The crypto market crashed with Trump’s Tariff plan introduction, affecting investors’ sentiments.
Should You Worry?
In the crypto market, there’s hardly a surety for anything. The market trends change often; the same applies to the investor’s sentiments. This is why the TRUMP memecoin price performance depends on various factors and may or may not crash to $5. More importantly, the timeline could totally vary from a day to a month. As a result, instead of worrying, investors should closely monitor this token’s performance and market sentiments to accurately predict the next move.
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