The Official Trump meme coin, currently priced at $29, has seen a sharp decline from its previous high of $75. Despite a current dip, the coin remains a topic of interest in the market.
It’s also important to note that some early investors may still be in significant profit, as the coin’s market cap reached $5 billion within just five days of launch. Although the price is falling, there’s potential for a rebound.
One potential factor to consider is the executive order signed by Donald Trump aiming to make America the global capital of crypto. This could positively impact the coin in the long run.
Additionally, the coin has gained real-world utility, being accepted for bookings through Travala, a company that allows crypto payments for flights, hotels, and activities. This could lead to more selling as people cash out, but it may also help increase the coin’s value over time.
$TRUMP Price Prediction
The coin’s market cap is hovering around $5.85 billion, but its liquidity recently saw a significant decrease. There have been notable movements in the wallets that hold $TRUMP coins, with some wallets making impressive profits.
A large portion of its supply is still pending, with 800 million coins to be released over the next three years, which could lead to token dilution unless its market cap increases proportionally. The market for this token has been unpredictable, with rapid price movements followed by sharp declines.
At present, it’s unclear whether the coin will gain long-term traction or fade out. Large exchanges hold a substantial portion of the coin, and while retail investors are often left with smaller amounts, they still contribute to the trading volume.
While there’s concern over the coin’s future due to heavy selling pressure, it hasn’t yet reached a point where it might be considered a ‘rug pull.’ Despite its current bearish trend, there remains hope that the coin could see significant growth again, with some predicting it could reach a $100 billion market cap.
The market sentiment surrounding the coin fluctuates between bullish and bearish, leaving many wondering whether it will experience a quick recovery or continue to fall. Interested investors can check out our guide on how to buy $TRUMP coin here.
Some investors see this as an opportunity to accumulate, especially as the price hovers around key Fibonacci levels that could indicate a good entry point for long-term growth.
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