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The Official Trump worth plunged 17% within the final 24 hours to commerce at $20.17 as of 9:15 p.m. EST on buying and selling quantity that surged 47% to $3.1 billion.
The drop made TRUMP the highest loser on CoinMarketCap amongst main cryptos by market capitalization, and got here after President Donald Trump ordered sweeping tariffs be imposed on its high three buying and selling companions: Canada, Mexico, and China.
Official Trump Worth May Proceed Dropping
The TRUMP worth has been experiencing a robust downtrend, as mirrored within the 1-hour chart. After a pointy peak at $73, the Official Trump worth has persistently declined, forming a descending channel marked by two black development traces.
The market construction suggests steady decrease highs and decrease lows, reinforcing a bearish outlook.
Presently, the worth of TRUMP is testing the decrease boundary of the channel round $20.17, after hitting a neighborhood low of $18.56. Whereas a short-term bounce could also be attainable, the general development stays downward until key resistance ranges are damaged.
On account of the downtrend, the worth of Official Trump now trades effectively under each the 50-day and 200-day Easy Transferring Averages (SMAs), which now help the continued down motion.
The Relative Energy Index RSI is at present at 31.20, approaching the oversold area (under 30). A slight bounce from 25.40 suggests some short-term aid, however the RSI remaining close to oversold ranges signifies persistent promoting stress.
TRUMP/USDT Chart Evaluation (Tradingview)
TRUMP Worth Prediction
With the Official Trump worth buying and selling inside a well-defined descending channel and failing to interrupt above key shifting averages, the development stays bearish. If the TRUMP worth breaks under $18.56, additional draw back towards $15-$16 is feasible.
Nevertheless, if the worth of Official Trump breaks above the $23.87 resistance (50-day SMA) and sustains momentum, it may problem the $27.08 degree (200-day SMA) earlier than confirming a possible reversal.
Because the TRUMP worth plunges, traders are piling into a brand new meme coin known as Meme Index (MEMEX). In response to crypto analyst and YouTuber Jacob Bury, who has over 54k subscribers, MEMEX has the potential to be the following 10x crypto.
Meme Index Presale Closing On $4 Million Milestone
Meme Index is the world’s first decentralized meme coin index that’s at present in its presale part. The undertaking has already raised $3.2 million and is gaining momentum.
The MEMEX token affords a number of meme coin baskets for funding, together with the Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.
Every basket caters to various threat appetites, from comparatively safer choices like Meme Titan to the highest-risk Meme Frenzy, which options rising and extremely risky meme cash for these searching for an exciting funding expertise with doubtlessly enormous rewards.
🚨 Meme Index is dwell in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled entry to the $120 billion meme coin market.
Meme Index affords unique entry to indexes that cater to each threat… pic.twitter.com/GsiBBuZOzX
— Finest Pockets (@BestWalletHQ) December 27, 2024
MEMEX holders also can take part in its presale staking pool, which at present supplies a stratospheric annual yield of 700%.
You should purchase MEMEX tokens on the official web site for simply $0.0157812 to take part within the presale.
traders can buy earlier than a worth hike in lower than 20 hours.
Purchase MEMEX tokens utilizing USDT, ETH or financial institution card.
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