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The Official Trump price plummeted 6% in the last 24 hours to trade at $12.71 as of 2:24 a.m. EST on trading volume that rose 1% to $1 billion.
This drop in the TRUMP price comes after President Donald Trump signed an executive order to establish a strategic reserve for Bitcoin, making the US one the few countries in the world to create a national stockpile of blockchain assets.
The reserve will hold cryptocurrency forfeited to the federal government as part of criminal or civil proceedings, according to crypto czar David Sacks.
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…
— David Sacks (@davidsacks47) March 7, 2025
However, the move failed to impress the crypto markets, with the crypto space plunging 5% to a $3 trillion market capitalization, as shown by Coingecko data.
The continued fall could be a result of Trump not mentioning any plans to actively buy Bitcoin.
Official Trump Price Could Still Recover
The TRUMP price chart reveals a descending wedge pattern, which is typically a bullish formation. This pattern is characterized by declining highs and lows converging towards a point of breakout.
The Official Trump price has recently tested the lower boundary of this pattern multiple times, indicating strong support.
Meanwhile, Official Trump price action appears to have formed an ABCD harmonic pattern within the wedge, with points A, B, C, and D marked on the chart.
This suggests a potential reversal area near point D, which coincides with a breakout from the smaller descending channel.
The 50 Simple Moving Average (SMA) on the 4-hour chart is currently at $13.80, acting as a near-term resistance level. Additionally, the 200 SMA is positioned at $16.04, which represents a significant resistance level for a potential breakout, according to data from GeckoTerminal.
Moreover, the Relative Strength Index (RSI) is currently at 43.65, indicating that the asset is in neutral territory. A move above 50 could signal growing bullish momentum, while a drop below 40 could indicate increased bearish pressure.
TRUMP Price Prediction
Given the descending wedge pattern and the harmonic structure, the TRUMP price has a strong probability of breaking out upwards.
The immediate resistance levels to watch are $13.80 (50 SMA) and $16.04 (200 SMA). A successful breakout above these levels could propel the Official Trump price towards $30, aligning with the projected price target.
However, failure to hold current support levels could see the price of Official Trump retesting the $10 region before attempting another breakout.
As the TRUMP price plummets, investors are shifting focus to a new meme coin called Meme Index (MEMEX). According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 725K subscribers, MEMEX has the potential to be the next 100x crypto.
Meme Index Presale Heading For $4 Million – Buy Before It’s Too Late
With over $3.9 million raised in just two months, the industry’s first meme coin index, Meme Index, has announced its presale will conclude in 24 days on March 31.
This is the last opportunity to buy into one of 2025’s most anticipated presales, fueling growing FOMO around the MEMEX token.
Meme Index offers a new investing approach to the meme coin sector, providing a great entry point to a sector that is trading far below its peak.
The project simplifies investing in meme coins by offering a diversified index, enabling investors to manage risk in this volatile market.
While meme coins can yield high profits through strong community support, their unpredictability often makes individual investments challenging.
GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!
— Meme Coin Mania (@MemeCoinMania77) February 5, 2025
The MEMEX token offers four diversified investment baskets: Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index.
Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking high returns while willing to accept high risk.
MEMEX holders can also participate in the project’s presale staking pool, which currently provides a stratospheric annual yield of 576%.
You can purchase MEMEX tokens on the official website for just $0.0166883.
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