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The Official Trump price dropped 6% in the past 24 hours to trade at $13.77 as of 3:30 a.m. EST on trading volume that surged 48% to $2.8 billion.
This comes after buyers of the TRUMP meme coin converged from around the globe on Thursday for an exclusive dinner at his private country club.
Among those in attendance was China-born crypto entrepreneur and billionaire Justin Sun, who posted a video of himself entering the ballroom. Sun won first place in the dinner contest with his $18.5 million wallet.
As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner by @GetTrumpMemes.
Thank you @POTUS for your unwavering support of our industry!#MakeCryptoGreatAgain🇺🇸 pic.twitter.com/Yy2TuWEgzT
— H.E. Justin Sun 🍌 (@justinsuntron) May 23, 2025
Official Trump Price Still Bullish Despite A Slight Correction
After breaking out of the descending triangle pattern, the TRUMP price has retraced to trade within the upper boundary of the triangle, within the $13.7 breakout point.
After breaching the 0.236 Fibonacci level ($14.01), the Official Trump price now looks to be on a correction, headed for the next support zone within the triangle, according to GeckoTerminal data.
However, the price of Official Trump still trades above the 50-day Simple Moving Average (SMA), which indicates that TRUMP is still bullish.
Meanwhile, the Relative Strength Index (RSI) is trading at 54 and heading down, showing that sellers are taking charge of the price.
The Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing above the orange signal line, representing a bullish crossover. The green bars on the histogram are also beginning to form, which may show that buyers are picking up momentum.
If the bulls find support around the 0.382 Fibonacci level (13.32), the price could soar back to $16.37 zone, an 18% surge from the current level.
On the flip side, if the bears exert more pressure, the $12.21 (0.618 Fib level) acts as a cushion against downward pressure.
Meanwhile, investors are flocking to the presale for the new Solana layer-2 project Solaxy (SOLX). The project has already brought in over $39.5 million, making it one of the largest token sales this year.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X post-launch.
Solaxy Presale Closes On $40 Million – Last Chance To Buy
Solaxy is a Layer-2 scaling solution developed for the Solana blockchain. It enhances Solana’s scalability by moving transactions off-chain to prevent congestion and reduce transaction costs.
To accomplish this, Solaxy introduces a native sidechain that uses rollups to batch transactions before settling them on the main Solana chain.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system improves efficiency.
That model has already successfully scaled a blockchain through platforms like Arbitrum and Optimism.
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s Layer-1 capabilities.
The team has also rolled out the Solaxy bridge on the testnet. As a result, Solaxy buyers can see how they can bridge their ETH or SOL tokens to the Solaxy layer-2 network.
🛸 Solaxy Testnet Bridge is LIVE! 🛸
You can now bridge native SOL between Solana Devnet and Solaxy Testnet at https://t.co/BFMV1G9v4c 🔥🚀
Built with Hyperlane, this is the first step toward full cross-chain interoperability.
Ethereum bridging is coming for mainnet — stay… pic.twitter.com/8NVoPaqaoV
— SOLAXY (@SOLAXYTOKEN) May 15, 2025
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001732 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers buyers who stake SOLX a huge annual yield of 102%.
Interested investors will want to buy SOLX before the presale ends in 24 days.
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