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The OFFICIAL TRUMP price plunged 9% in the last 24 hours to trade at $12.53 as of 9:42 p.m. EST as investors dump their holdings in the meme coin on the market.
The drop in the TRUMP price comes as the list of top holders of Donald Trump’s meme coin has been finalized ahead of background checks for the TRUMP meme coin dinner with the US President. Additional purchases of the token will no longer be considered, the TRUMP meme con project said in a May 12 X post.
The First $TRUMP Competition is officially over! Details and what's next for $TRUMP Below:
If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible. There will be background checks that…
— TrumpMeme (@GetTrumpMemes) May 12, 2025
OFFICIAL TRUMP Price Resting On Key Support
4-hour chart for TRUMP/USD (Source: GeckoTerminal)
The OFFICIAL TRUMP price is resting on a support level at $12.42, data from GeckoTerminal shows. Should the meme coin drop below this technical safety net in the next 24 hours, TRUMP could end up plunging to as low as $10.57 in the short term.
However, traders identifying the current OFFICIAL TRUMP price as a buy opportunity might result in a more bullish scenario playing out. This could lead to the meme coin flipping the resistance level at $14.16 into support. A 4-hour candle close above this barrier might then give TRUMP the technical foundation needed to rise to $15.77 if the bullish pressure persists.
Bears Might Try To Push The OFFICIAL TRUMP Price Lower Down
From a technical standpoint, indicators on TRUMP’s 4-hour chart warn the OFFICIAL TRUMP price might continue dropping in the next 12 hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.
The MACD line is currently positioned below the MACD Signal line, which suggests TRUMP is in a negative short-term trend. What’s more, the gap between the two lines has started to grow in recent hours. Traders might interpret the expanding margin between the two MACD lines as a sign of TRUMP’s bearish momentum picking up strength.
There has also been a substantial drop in buyer power over the past 24 hours, as evident by the RSI readings that have fallen from above 50 to around 40 throughout the past trading day. The latest reading under 50 warns bears now have an upper hand against bulls, while the downward slope of the RSI suggests sellers are still accumulating strength against buyers.
If the technical warnings presented by the MACD and RSI on the 4-hour chart are validated, the OFFICIAL TRUMP price could end up falling to the aforementioned $10.57 support.
As the OFFICIAL TRUMP price clings to support, investors flock to the presale for Solaxy (SOLX). According to prominent YouTube channel 99Bitcoins, which has over 725K subscribers, SOLX has the potential to soar 100X after its official launch.
Solaxy To Address Solana’s Rising Levels Of Congestion
Solaxy is the first layer-2 scaling solution for the Solana ecosystem. Its introduction to the market comes as Solana battles with high levels of congestion following the hype around SOL meme coins.
The high levels of traffic have led to some users experiencing network delays and transaction failures, and could result in another Solana outage if something does not change soon. This is where Solaxy comes in.
Solaxy will operate similar to layer-2 solutions within the Ethereum ecosystem, and will process and bundle SOL transactions off of the Solana mainnet. The project will only call on the layer-1 backend for final validation, improving Solana’s overall efficiency.
In addition to scaling Solana, Solaxy will also bridge the network with Ethereum to create a new Web3 platform that combines the strengths of two of the most prominent blockchains in the crypto space. Decentralized app and meme coin developers will subsequently have a scalable and secure platform to build the next big innovation in the Web3 space.
The team has already launched its testnet and the associated block explorer. In the latest dev update, the team said they have been working on optimizing node synchronization on network restarts and optimizing their rollup mechanisms to make transaction processing faster on their sidechain.
Solaxy Presale Goes Parabolic
Solaxy is pulling investors in with its ongoing presale, and has already raised over $34.8 million in early-stage funding.
Interested investors can participate in the ICO by purchasing SOLX via the simple buy widget embedded on the project’s website. Selling for $0.001722, SOLX can be bought with both crypto or bank card. Once purchased, the tokens can also be staked for a 115% APY.
Buyers that want to secure the best presale deal will want to hurry, because SOLX’s price will increase as its ICO progresses. The next price hike is scheduled for around 14 hours.
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