TRUMP Coin (TRUMP), the official meme coin of US President Donald Trump, continues to pattern decrease on Friday, with chart evaluation pointing at a powerful chance of continued draw back.
TRUMP was final buying and selling round $7.70, near its lowest ranges since its launch again in January.
The Trump group launched the official TRUMP coin simply forward of Trump’s inauguration in late January.
Preliminary hype say the meme coin surge to a value of over $70 and a market cap within the $10s of billions.
Nevertheless, the meme coin has since reversed near 90% decrease. That’s partly as a result of the TRUMP coin launch sucked a whole lot of liquidity out of the broader meme coin market, which has been in sharp decline because the token’s launch.
It’s additionally as a result of the macro backdrop has taken a considerable flip for the more serious, with threat property like shares and crypto taking a beating from issues in regards to the financial fallout from Trump’s commerce wars.
However TRUMP coin’s value has additionally possible suffered from an intense quantity of criticism, and issues about doubtlessly unfair tokenomics.
Its sharp decline again from post-launch highs appears to be like typical of a “pump-and-dump” scheme, a standard sort of rip-off in crypto, with many calling it out as such.
Trump’s meme coin must be the most important rip-off of the season. pic.twitter.com/nCvNWgyVP1
— VolgaLad (@cym27s) April 13, 2025
In the meantime, there are issues that the tokenomic distribution of the meme coin is unfair, with the Trump group having gifted themselves 80% of the token’s general provide.
These tokens have been vested to launch over the following three years, with 4% of provide, value round $300 million, unlocking on Friday.
Regardless of having $300m in unlocks as we speak after which unlocks daily after that the $TRUMP token is up on the day. pic.twitter.com/3qDI4qLREU
— Chris
(@ChrisCoffeeEth) April 18, 2025
The place Subsequent for TRUMP Coin? Right here’s What the Chart Says
Fundamentals paint a tough image for TRUMP coin proper now. Within the absence of a serious enchancment in sentiment for the broader crypto market, the meme coin is unlikely to be going wherever quick.
Chart evaluation additionally paints a bearish image for TRUMP coin. TRUMP has frequently discovered resistance at its 21DMA in latest months, and seems to be caught in a downwards pattern channel.
If the present pattern continues, TRUMP might fall to round $5 by the tip of the month.
A considerable rebound is probably going overdue at this level, although, and if the meme coin have been to interrupt above its latest downtrend and 21DMA, a fast rally again above $10 can be possible.
Nonetheless, as macroeconomic uncertainty stays excessive, any TRUMP rally is more likely to stay short-lived and shallow.
Savvy traders might be utilizing the present excessive ranges of uncertainty available in the market, and suppressed crypto costs proper now, as a chance to build up.
Nevertheless, issues in regards to the credibility of the TRUMP meme coin recommend it is probably not one of the best crypto to purchase now.
Cash like Bitcoin, Ethereum and Solana are more likely to see huge good points earlier than the tip of Trump’s four-year time period, and are a lot safer bets than TRUMP coin.
That mentioned, that is crypto, and Trump is the most important identify on this planet. TRUMP coin might shock everybody with a serious comeback at any second.
Simply as its fallen 90% from latest highs, a 10x rally to new report highs can also be doable.
The submit TRUMP Coin (TRUMP) Evaluation: Right here’s What the Chart Says (Bearish!) appeared first on Cryptonews.