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The Trog price surged over 96% in the past 24 hours to trade at $0.0000877 as of 8:20 a.m. EST as investors bet big on the meme coin.
Donald Trump’s memecoin holdings have just doubled, to over $20M.
Donald Trump was airdropped half of the TROG supply by their developer team a few days ago. It has now been priced on Arkham, with a market value of over $12M.
However, with this much of the supply, it is… pic.twitter.com/mOjRMdUQ1u
— Arkham (@ArkhamIntel) June 4, 2024
This meteoric rise in the TROG price comes after the token’s development team airdropped half of the crypto’s supply, valued at $12 million, to former US President Donald Trump in the last couple of days.
As a result, his meme coin holdings have doubled to more than $20 million, according to the on-chain intelligence firm Arkham.
A Bearish Chart Pattern Warns Of A Trog Price Drop
1-hour chart for TROG/USD (Source: GeckoTerminal)
The Trog price attempted to break above the $0.0001088 resistance over the past 6 hours. Although the altcoin was able to briefly overcome this threshold, bears managed to prevent a 1-hour candle close higher than this mark.
A bearish rising wedge has subsequently emerged on the altcoin’s charts. If this chart pattern is validated, the Trog price could correct soon. This potential sell pressure might pull the crypto’s price down to the immediate support level at $0.0000800. Continued sell volume should the crypto reach this point could then result in it falling to as low as $0.0000526.
However, a 1-hour candle close above $0.0001088 within the next 6 hours might invalidate the bearish thesis. In this alternative scenario, the Trog price could rise to a new all-time high.
Bears Might Soon Take Control Of The Trog Price
Technical indicators on TROG’s 1-hour chart warn the Trog price might fall in the upcoming 12 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bearish signs.
TROG’s positive trend seems to have reached a peak, as signaled by the MACD line that is collapsing towards the MACD Signal line. A cross between these two technical indicators in the coming 12 hours might suggest that the Trog price has entered a negative cycle.
Meanwhile, the RSI has declined from 75 to 61 in the last 3 hours. Traders usually see this as a sign of diminishing bullish strength. Although the RSI is still positioned above 50 to suggest that buyers are stronger than sellers, the negative slope of the RSI could be a precursor to bears taking back the advantage from bulls.
While the Trog price stands the risk of correcting in the short term, investors continue to buy into WienerAI (WAI) during its presale phase as the meme coin’s ICO charges towards $5 million.
A Light-Hearted Crypto Backed By Powerful Technology
WienerAI is not just another dog-themed altcoin looking to establish itself in the vibrant meme coin space.
Backed by sophisticated mathematical and computer models, the project is on a mission to create a loyal and smart companion for crypto traders.
With its predictive technology, WienerAI can process large quantities of data to uncover insights that can help traders make more informed trading decisions and capitalize on opportunities as they present themselves.
In addition to advanced AI trading models, WienerAI offers token holders a seamless token swap platform called Sausage Swap as well. WAI investors will also never be frontrun by MEV bots again, given the MEV protection included within the WienerAI ecosystem.
All of these features and benefits come with no additional fees to WAI holders and investors.
Its powerful AI technology and the range of features WienerAI has to offer has intrigued analysts, including crypto YouTuber Jacob Bury. In a recent video, he named WAI as one of the top 6 meme coins to buy now. He also speculated whether the meme coin could 10X after launch.
Investors Flock To WAI And Its Competitive APY
Up until now, investors have poured more than $4.4 million into WAI’s presale. This could also be partly because the AI meme coin’s team is offering anyone who buys WAI at this early stage a lucrative staking opportunity with a 241% APY.
This is getting WILD
SO happy to be on this journey with you all
SO MUCH MORE AHEAD 🌭🤖 pic.twitter.com/kWq22xWfSw
— WienerAI (@WienerDogAI) June 3, 2024
Investors who want to get in on this opportunity can do so through the simple buy widget embedded on the project’s official website. Selling for $0.000715, WAI can be bought using either ETH, USDT, BNB or bank card.
Anyone interested in buying WAI might want to act fast, however, since the meme coin’s price will increase in less than three days.
Purchase and stake WAI here for up to 241% in annual rewards.
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