President Trump's cryptocurrency, the TRUMP Coin, has witnessed a drop

This is $TRUMP coin chart -90% from ATH If he is going to handle US economy like this, ouch $BTC $ETH $SOL #TrumpTariffs #China #stockmarketcrash

President Trump's cryptocurrency, TRUMP Coin, has seen a significant decline. Once a hot topic in the crypto sector, it now faces severe hurdles.

TRUMP Meme Coin Price Drops 90% From ATH

The TRUMP Token was launched on the Solana blockchain, aiming to raise $80 million by selling 200 million tokens to the public, while 800 million tokens were reserved for affiliates. The coin’s launch on August 17 sparked a crypto frenzy, with TRUMP rising by about 300% shortly after its release.

At its peak, the $TRUMP coin boasted a market cap of $15 billion, despite creators mentioning it is not an investment vehicle. However, many enthusiasts seem disappointed that the TRUMP Coin has faced major struggles.

Its value has plunged by 90% from its all-time high of $75.43. This decrease can be attributed to larger market volatility and the natural life cycle of meme coins, which typically experience rapid surges on hype before correcting quickly.

Despite its affiliation with President Trump, the coin’s speculative character renders it sensitive to market volatility and political sentiment shifts.

This is $TRUMP coin chart -90% from ATH If he is going to handle US economy like this, ouch $BTC $ETH $SOL #TrumpTariffs #China #stockmarketcrash

According to recent trade data, there has been minimal activity in the TRUMP coin. Its 24-hour trading volume stands at $412.59 million, a significant decrease from the original $36.15 billion it gathered on launch day.

The coin's market cap has also decreased to $1.5 billion, which shows how little interest investors have in the coin.

TRUMP Coin Price Technical Analysis

The recovery potential of the TRUMP Coin price remains uncertain, as technical indicators show mixed signals. The Relative Strength Index (RSI) is below 30, signaling an oversold condition that some traders see as a buying opportunity.

Meanwhile, the MACD and Highs/Lows oscillator indicate bullish sentiment, but two other oscillators favor bearish trends. These indicators suggest limited bullish momentum, with the overall trajectory leaning bearish.

Moving averages paint a grim picture, with 86% showing a strong sell signal. This, combined with oscillator data, suggests that the Trump coin may have exhausted its bullish momentum. However, as a hype-driven asset, President Trump’s single endorsement or promotion could reignite interest and drive prices upward unpredictably.

What Next For TRUMP Coin?

Multiple market elements impact the TRUMP Coin’s performance. Economic policies affect investor confidence, while some enthusiasts believe that without the TRUMP memecoin, Bitcoin could have experienced more significant growth as speculative cash might have moved into established cryptocurrencies.

Regulatory adjustments and broader trends also influence its future. President Trump’s pro-crypto policies could improve its prospects, but increased regulatory scrutiny poses challenges.

The coin’s reliance on political sentiment and speculative trade makes it susceptible to volatility and external factors.