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The Official Trump price dropped 13% in the last 24 hours to trade at $11.27 as of 1:30 a.m. EST on trading volume that went down 6% to $952.52.
The TRUMP price sank from $13.3 yesterday to $11.23 at its lowest after Bitcoin’s price saw another major drop to its current value of $79.61k. With this dip, BTC reached a four-month low, and the altcoin market followed, TRUMP included.
Right now, TRUMP is getting quite close to its launch price, and is moving further and further away from its ATH. The meme coin lost 85% of its value in a month, but even so, it still sits as the 4th largest meme coin by market cap.
Official Trump Price Prediction
TRUMP saw a massive dip that pushed it 13% down in 24 hours as BTC itself took an 8% dive during the same period. The fourth-largest meme coin also saw a massive widening in its Bollinger Bands, as its price started pushing the lower band further down.
As the support at $11 stopped its decline, at least for the time being, the token seems to be trapped between this level and $11.5. Therefore, it might stabilize in this range with small fluctuations. Of course, this could change and the support might break if another push-down takes place in the next few days.
15-minute chart for TRUMP/USD (Source: TradingView)
The meme coin’s Relative Strength Index (RSI) value shows that TRUMP holders started selling over 24 hours ago, after the RSI reached the overbought zone. It took about 12 hours for its RSI to go from 70 to 30, after which it spent the second half of yesterday fluctuating between 30 and the neutral value of 50.
Then, about 8 hours prior to the time of writing, TRUMP’s RSI took a nosedive as the new wave of sales arrived, pushing the RSI from 50 to 14, deep in the oversold zone. This drop took only around 3 hours, and since then, the RSI climbed to 26.66, where it sits at the time of writing.
Even though some traders have used the opportunity to buy the dip, TRUMP is not showing serious signs of recovery for now.
Promising Alternative To TRUMP
TRUMP’s price drop shows the dangers of investing in a single meme coin, whereas Meme Index (MEMEX) offers a way to make the process safer through instant diversification of your portfolio.
This is a new project, currently still in ICO, that many have turned to as a safer alternative to many cryptos, TRUMP included. It introduces different meme coin baskets, each of which comes with different levels of risk, where the higher risk means higher potential reward.
There are four of these baskets, or indexes, called Titan, Moonshot, MidCap, and Frenzy, ranking from the least risky (Titan) to the riskiest (Frenzy). By investing in them, you are investing into a group of meme coins at once, so even if one or two of them experience price drops like TRUMP, your investment would not suffer such harsh losses if the other meme coins are still performing well.
To invest in any of the project’s baskets, you need Meme Index’s native MEMEX token, which is currently in ICO and selling for only $0.0166218. Its presale has raised over $3.88 million, and could soon hit $4 million raised if investors turn to it for shelter from the meme coin market bloodbath.
If you buy MEMEX, you will also have access to community governance, allowing you to vote on which coins should be added or removed from each of the indexes.
Crypto expert ClayBro, who has over 136k subscribers, views the project as a way to quickly get to the best meme coins as the sector rebounds.
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