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The OFFICIAL TRUMP price plummeted over 9% in the last 24 hours to trade at $9.29 as of 9:37 p.m. EST as investors dump their holdings in the crypto on the market.
The drop in the TRUMP price comes after US President Donald Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.
The move spooked crypto investors, leading to a more than 1% correction in crypto prices in the last 24 hours, data from CoinMarketCap shows.
OFFICIAL TRUMP Price Resting On A Key Support
4-hour chart for TRUMP/USD (Source: GeckoTerminal)
The OFFICIAL TRUMP price dropped below a support level at $9.7776 and is resting on a support at $9.1666, according to data from GeckoTerminal. Should sellers continue to exert pressure on the meme coin in the next few hours, TRUMP might stand the risk of losing this technical safety net.
However, traders identifying the current OFFICIAL TRUMP price as a buy opportunity could mark the end of the meme coin’s drop. In this more bullish scenario, the crypto might try to reclaim the aforementioned $9.7776 support. A 4-hour candle close above this level could then lead to a climb to as high as $10.4165 in the short term.
The OFFICIAL TRUMP Price Drop Might Not Be Over Yet
From a technical perspective, indicators on the meme coin’s 4-hour chart warn the OFFICIAL TRUMP price might continue to drop in the next few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bearish.
That’s after the MACD line plunged below the MACD Signal line in the last 12 hours to trigger a major bearish technical flag. This specific technical event is usually seen as an indication that a crypto has entered a bearish trend. What’s more, the growing gap between the two MACD lines warns TRUMP’s negative momentum is gaining steam as well.
Meanwhile, RSI readings have undergone a sharp drop from above 50 to 30 in the last few hours. This suggests a strong decrease in buying power.
While TRUMP remains at the mercy of sellers, investors are piling into a new meme coin called BTC Bull Token (BTCBULL) to grow their crypto portfolios. According to 99Bitcoins, a prominent YouTube channel with over 725K subscribers, BTCBULL has the potential to soar 10X after launch.
A Meme Coin Offering Investors Free Bitcoin
BTC Bull Token is a Bitcoin-branded meme coin that wants to cheer the leading crypto on all the way to the $1 million milestone. To rally investors together and incentivize them to push Bitcoin’s price up, the project rewards its token holders with free BTC via airdrops as well as BTCBULL token burns, which are triggered when Bitcoin reaches predefined price milestones.
The next BTC airdrop will happen when Bitcoin hits $150K for the first time. Thereafter, every $50K increase in the market leader’s price will result in another Bitcoin airdrop. Meanwhile, the next BTCBULL token burn will happen when Bitcoin reaches $125K, with every subsequent $25K increase in BTC’s price also permanently removing tokens from the supply.
The BTCBULL token burns are meant to mimic BTC’s ever-growing scarcity. As more tokens are removed from the supply, it could result in a skewed demand and supply ratio. If investors rush to buy the meme coin to get in on the project’s Bitcoin airdrops, it could result in a massive BTCBULL rally.
Investors Bet Big On BTCBULL’s Future
Investors are betting big on BTC Bull Token’s future, and have already poured more than $4.3 million into the project’s ongoing presale. With the bullish predictions by experts like 99Bitcoins, the Bitcoin airdrops and the project’s appeal to both meme coin and BTC investors, it’s easy to see why a buying frenzy has erupted around the meme coin at this early stage.
Interested investors can join the presale and buy BTCBULL via the simple widget embedded on the project’s website. Selling for $0.00244, BTCBULL can be bought with either crypto or bank card.
Once purchased, investors can lock up their tokens in the project’s presale staking pool for a 96% APY.
Anyone looking to buy might want to act fast, because the meme coin’s price will undergo a series of presale increases as its ICO progresses. The next price hike will happen in just over 7 hours.
Visit the BTC Bull Token website.
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