TRUMP (TRUMP) Meme Coin Falls From $76 to $37 as Donald Trump Begins Inauguration Speech

The official Trump (TRUMP), the recently launched meme coin by the United States pro-crypto president Donald Trump, is making waves with its impressive price

United States pro-crypto president Donald Trump recently launched an official meme coin called Trump (TRUMP), which has been performing remarkably well. However, on January 20, 2024, as Trump commenced his inauguration speech, the TRUMP meme coin failed to maintain its crucial support and now appears poised for a significant price decline.

On January 18, 2024, during the Asian trading hours, Trump made a post on X (formerly Twitter) to introduce its official meme coin, TRUMP, to the world. Following the X post, the TRUMP coin garnered massive attention from traders and investors, causing the meme coin to skyrocket from $4 to $76.67.

TRMUP Coin Fall

But today, since the Asian trading hours, the meme coin's price has been struggling and witnessed a price decline. As Donald Trump’s speech began, the meme coin failed to hold its crucial support at $40.

TRUMP Could Fall to $30

Following this breakdown, TRUMP appears bearish and seems poised to fall to its next support at $30. Based on the recent price action, if the TRUMP meme coin closes a daily candle below $40, there is a strong possibility it could fall to $30.

The market sentiment for the meme coin seems to be a profit-booking scenario for investors.

Current Price Momentum

At press time, TRUMP is trading near $37 and has experienced a price decline of over 38% in the past 24 hours. During the same period, its trading volume increased by 30%, indicating heightened participation from traders and investors.