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The Official Trump price has plunged 5% in the last 24 hours to trade at $12.24 as of 12 p.m. EST on a 16% slump in trading volume to $930 million.
The drop in the TRUMP price comes after US President Donald Trump hosted the first-ever White House Crypto Summit.
#Trump Explores #Bitcoin Reserve at Historic Crypto Summit
The White House hosted the first-ever Digital Assets Summit led by President Donald J. Trump, focusing on enhancing the U.S. position in the cryptocurrency market. Discussions included plans for the U.S. government to… pic.twitter.com/rmuX8YMoYz
— Markets Today (@marketsday) March 8, 2025
While the event gathered major industry leaders, including Strategy CEO Michael Saylor, Coinbase CEO Brian Armstrong, and the Winklevoss twins, investors were disappointed that there were no major new policy announcements.
Official Trump Retests The Support Zone – Is A Rebound In Play?
The TRUMP/USDT pair is currently trading at $12.23, experiencing a slight decline of 0.08% in the last session. The price movement within the 1-hour timeframe has been fluctuating between a low of $12.17 and a high of $12.26. While the recent trend remains bearish, the price is approaching a key support zone, which could lead to a potential rebound.
A strong support level has formed around the $11.80–$12.00 range, where buyers have previously entered the market. This zone has shaped a rounded bottom pattern, indicating possible accumulation. If this support holds, the price may see an upward movement toward resistance levels. The nearest resistance stands at $13.24, while a major resistance zone exists between $14.50 and $15.00. A breakout above this level could trigger a rally toward $16.00–$18.00.
TRUMPUSDT Analysis Source: Tradingview
The price followed a bearish channel, leading to a sharp drop before breaking out on March 2. This breakout initially drove the price to $18.50, but it has since retraced. If the market regains momentum, another breakout attempt may occur.
Momentum indicators indicate a possible shift in trend. The Relative Strength Index (RSI) is at 35.84, approaching oversold region (30). This shows sellers may be losing strength, and buyers could soon step in. Additionally, the price remains below key moving averages, signaling that short-term sentiment is still weak, but a move above resistance could flip momentum.
If TRUMP price holds the $12.00 support, it could initiate a rebound toward $14.50–$15.00. However, a break below $12.00 might lead to further declines, with $11.00 as the next key support.
The $12.00 support level remains a key area to watch. If buyers defend this level, the price could see a strong recovery. However, further downsides are possible if the support fails, making the upcoming trading sessions crucial for determining the next trend.
Meme Index Presale Surges Toward $4 Million – Last Chance To Buy
As TRUMP tumbles, investors are buying a new meme coin called the Meme Index (MEMEX), which has already raised over $3.9 million in its presale.
As the industry’s first meme coin index, Meme Index has announced that its presale will end March 31. This marks the final chance to invest in one of 2025’s most anticipated launches.
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
Meme Index enables diversified meme coin investing for the first time. 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.
Popular YouTube channel 99Bitcoins, with more than 725k subscribers, says MEMEX has the potential to 100x after launch.
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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