Analysis of TRUMP Coin (TRUMP): What Does the Chart Show?

TRUMP (TRUMP), the official currency of U.S. President Donald Trump, continues to have a downward trend on Friday, with chart analysis indicating a high likelihood that the price will continue to fall. TRUMP was most recently traded at around $7.70, close to its lowest level since its launch in January.

The Trump organization launched the official TRUMP coin just before Trump's inauguration at the end of January. Initial information indicates that this meme coin surged to over 70 dollars with a market capitalization in the tens of billions of dollars. However, the meme coin has reversed a nearly 90% fall. Partly due to the launch of the TRUMP coin, which has siphoned off a lot of liquidity from the broader meme coin market, which has seen a sharp decline since the launch of this coin. The reason is also due to the macro context undergoing significant changes in a downward trend, as risky assets such as stocks and cryptocurrencies are heavily affected by concerns about the economic consequences of Trump's trade wars. But the price of the TRUMP coin may have also faced intense criticism and concerns about the potentially unfair tokenomics mechanism. The sharp decline from the high after the launch seems to be typical of a "pump and dump" scheme, a common type of scam in cryptocurrency, as many people call it.

Meanwhile, there are concerns that the distribution of the meme coin's tokens is unfair, as the Trump organization has given itself 80% of the total supply of the token. These tokens have been authorized for issuance over the next three years, with 4% of the supply, worth approximately 300 million dollars, to be unlocked on Friday.

Where will TRUMP Coin go next? This is what the chart analysis indicates. The fundamental factors are painting a difficult picture for the TRU coin at present. Without a major improvement in market sentiment towards cryptocurrencies in general, this meme coin is unlikely to go anywhere quickly. Chart analysis also shows a downward trend for the TRUMP coin. TRUMP has consistently faced resistance at 21DMA in recent months and seems to be stuck in a downward trend channel. If the current trend continues, the price of TRUMP may fall to around 5 dollars by the end of the month.

However, there is a possibility of a significant recovery at this time, and if this meme coin can overcome the recent downward trend and the 21DMA, the likelihood of the price quickly rising back above $10 is very high. However, due to high macroeconomic instability, any price increase of TRUMP may only occur for a short and shallow period. Smart investors will take advantage of the current high level of volatility in the market and the low prices of cryptocurrencies as an opportunity to accumulate. However, concerns about the reliability of the meme coin TRUMP suggest that it may not be the best cryptocurrency to buy at the moment. Coins like Bitcoin, Ethereum, and Solana have the potential to rise sharply before Trump's four-year term ends and are much safer than the TRUMP coin. However, this is cryptocurrency and Trump is the biggest name in the world. The TRUMP coin could surprise everyone with a strong comeback at any time. Similar to the 90% fall from recent highs, the possibility of a tenfold increase to a new all-time high is also a potential occurrence.