TRUMP Meme Coin Drops Over 40%, Is TRUMP Coin Still Worth Buying?
In the early hours of January 21st Beijing time, the 60th presidential inauguration ceremony of the United States was held in the capital, Washington, D.C. Donald Trump, the elected president and 45th president, was sworn in as the 47th president of the United States, ushering in a new term with the elected vice president, J.D. Vance. The inauguration ceremony not only symbolizes the peaceful transfer of power in the United States but also serves as a platform to showcase the unique political traditions and culture of the United States.
Just three days ago, Trump announced the launch of his official personal Meme coin, TRUMP coin, through Truth Social. Even during the weekend, this news still stimulated the entire cryptocurrency community, and TRUMP’s market value soared to about $2 billion in less than 30 minutes. On Sunday, the TRUMP token experienced a major outbreak, with the highest price of the perpetual contract on the Gate.io platform reaching $81. The fully circulating market value of the TRUMP token once surged into the top 10 in the entire market.
The total supply of TRUMP is 1 billion, with an initial circulation of 200 million, and the rest will be gradually unlocked within 3 years. According to the official website, the founding company of TRUMP tokens will receive 80% of the tokens and follow the unlocking plan. According to on-chain data, the largest holder of TRUMP tokens holds 80% of the tokens, most likely the official address. In addition, the top five TRUMP token holders are transferred from Dev addresses, and the community believes that it is highly likely that the official controls these tokens. Currently, these five addresses hold a total of 86.6% of the tokens, which means that the circulation of TRUMP tokens on the market is less than 15%.
After the inauguration ceremony early this morning, Trump signed his first day’s utive orders in the Oval Office, but did not mention TRUMP token, Bitcoin, or strategic reserves. This triggered a plunge in the overall cryptocurrency market, with BTC briefly dropping to around $100,500 and TRUMP token experiencing a significant decline. According to Gate.io market data, TRUMP is currently priced at $35.475, with a 24-hour decrease of 41.56%. The current circulating market value of TRUMP token is $7.3 billion, with a total circulating market value of $36.8 billion.
TRUMP memes Market Analysis
Trading data
- Current price: 35.475 USDT
- 24-hour price change: -41.56.1%
- 24-hour high price: 61.8 USDT
- 24-hour lowest price: 30.327 USDT
- Support level: 30.45 USDT
- Resistance level: 45.249 USDT
- Market sentiment: Extreme Greed (Fear & Greed Index: 76)
Trading Strategy Recommendation: Short-term Long (Rebound Strategy)
- Direction: Long
- Entry price: 30.5 USDT (close to support level)
- Stop Loss Price: 28.0 USDT (below the support level)
- Target price: 35.0 USDT (close to the current price)
Reason: The support level is at 30.45 USDT, which may attract buying. If the price rebounds near the support level, a short-term rebound may be formed. It is suitable for short-term traders to capture the opportunity for rebound.
Prospect
The launch of TRUMP token has attracted global attention, especially in the context of the intersection of cryptocurrency and politics. TRUMP token is not only a cryptocurrency, but also a cultural symbol, closely associated with Trump’s personal brand and political image. As a type of memes coin, the political symbol behind TRUMP token and Trump’s influence may provide long-term price support. Note: meme币 should be translated as memes according to the correspondence table provided.
In addition, the TRUMP token may also become a new traffic entry point for the Solana blockchain, attracting more users and funds into the Solana eco. If Trump continues to be active on social media and promotes the TRUMP token, this token may not only continue to exist as an investment tool, but may also transform into a cultural and political symbol.
