Is the TRUMP Coin, a memecoin tied to Donald Trump, heading towards a freefall to $6 amid the crypto market struggle? Will this cryptocurrency offer a buying opportunity or should investors steer clear?
The official memecoin of Donald Trump, TRUMP Coin (TRUMP), is currently trading around $11.03 but remains trapped in an alarming short-term downtrend as the overall cryptocurrency market struggles to bounce back.
Over the past month, TRUMP Coin has consistently displayed lower highs and lower lows, indicating the increased risk of a convincing break below $10.
Macroeconomic uncertainties, primarily around the growing fear of the U.S. economy sliding into a recession soon, have heavily weighed on risk appetite in recent weeks.
In the past month, Bitcoin has dropped from nearly $100,000 to current levels around $82,000.
As for TRUMP Coin, things continue to go from bad to worse. It has now plummeted by 85% from its post-launch peak in January, around $76.
Furthermore, on-chain metrics suggest a collapse in interest for this flagship Solana memecoin. According to a Dune dashboard from gate_research, trading volumes have collapsed to a small percentage of the tens of billions of dollars daily volume observed after TRUMP’s initial launch.
With activity plummeting so drastically since the initial launch, it’s not surprising that the price of TRUMP has also sharply declined.
And with macroeconomic uncertainties risking further deterioration in the coming weeks and months, the risk of the memecoin losing more value is high.
Assuming the current downtrend persists (a bold assumption indeed!), the price of TRUMP Coin could drop to around $6 by mid-April.
Should traders take advantage of this dip to buy? There are several factors to consider. Firstly, TRUMP appears to have been a classic “pump and dump.”
A rapid initial surge that seemed to benefit and enrich insiders, followed by a massive price collapse that left latecomers, of which there are hundreds of thousands, massively in the red.
It’s challenging for any cryptocurrency to recover from such a tumultuous start. TRUMP currently boasts over 650,000 holders, and it’s presumed that the vast majority of them are sitting on significant unrealized losses.
It’s also essential to note that 80% of the supply is still held by Trump and insiders, which will be sold off over the next three years. That’s a lot of inflation.
Therefore, traders considering buying TRUMP should be aware of the risk.
$TRUMP's prices look to be nearing breakout points of a MAJOR falling wedge pattern and this comes after multiple positive spikes in volume and a significant bullish divergence with the RSI throughout majority of the pattern.
— JAVON
A masssive breakout can be coming, back to $26+! pic.twitter.com/Q9YtHvq93qMARKS (@JavonTM1) March 14, 2025
From a technical perspective, the token is still in a “falling wedge” with support below $9. The resistance zone lies between $13.5 and $17.7. If a breakout above $13.5 occurs, TRUMP could potentially see a significant increase. Up to $26 according to trader Javon Marks.
You can purchase the memecoin on Bitget in a few minutes. Here is a practical guide to buying $TRUMP :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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