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Information about OFFICIAL TRUMP (TRUMP)
On January 18, 2025, Donald Trump's social media accounts on Truth Social and X simultaneously shared information about TRUMP, a memecoin launched on Solana.
According to the official website, TRUMP is the "official memecoin" of Donald Trump, inspired by the "Fight, Fight, Fight" message he delivered during the "assassination attempt" in July last year, one of the most notable highlights of his journey back to the White House.
Just 15 minutes after its launch, TRUMP's market capitalization reached nearly $400 million. The token's value surged by over 12,000%, peaking at $35.
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The expected altcoin season in early 2025 failed to materialize as BTC’s dominance rose above 60%. Market participants prefer safer assets, leading to a lack of significant altcoin momentum, with TRUMP, OM, and BERA showing limited gains amid a broader market decline.
The recent volatility has heightened, causing some older altcoins to lose substantial value. The overall sentiment suggests traders are de-risking, with BTC and altcoins experiencing declines. Speculation around a possible altcoin season in 2025 remains, but uncertainty prevails with BTC’s continued strength.
Whales are actively offloading their TRUMP memecoin holdings, intensifying their market activities amidst declining prices. This panic selling has led to a significant drop in the memecoin’s value.
Currently, TRUMP is trading at 7.3 USD, down 19.84% in 24 hours. The ongoing bearish trend indicates a potential for further price reductions, with predictions of possibly hitting 6.5 USD.
Overall market sentiment remains bearish, demonstrated by negative funding rates and a surplus of sell orders, reflecting the lack of confidence among large holders.
TRUMP has experienced significant bearish sentiment across various timeframes. After a price drop of 15% in just 24 hours, driven by market panic, the altcoin faces potential downward pressure towards the 4.47 USD level.
Despite the price drop, trading volume for TRUMP has increased nearly fourfold, indicating heightened market activity. However, the overall trend suggests that selling pressures might continue, as TRUMP has fallen below critical support levels in its price movements.
Following President Trump’s new tariff announcements, the TRUMP memecoin’s price fell from 10.44 USD to 9.17 USD, marking a significant drop. It is currently trading at 9.374 USD with a market cap of 1.86 billion USD.
Investor sentiment has turned negative with panic selling, reflected in the sharp decrease in social engagement. The current technical indicators suggest ongoing bearish trends, and if support at 9.10 USD fails, further downturns may occur.
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