Official Trump (TRUMP) has gone up by 0.8% previously 24 hours to face at $11.3 per coin however buying and selling volumes have suspiciously elevated by 53.3% as President Trump is scheduled to signal a bunch of government orders (EOs) immediately.
This spike in buying and selling exercise has triggered rumors that insiders might know one thing about what the President might be as much as within the afternoon and will probably trace at one other upcoming crypto-related EO.
TRUMP has produced features of 6.3% previously week because the meme coin sector has recovered barely from the newest promoting spree. Nonetheless, the token has nonetheless shed 31.3% of its worth previously 30 days and is at the moment buying and selling 85.5% under its all-time excessive of $75.35 of January 19.
Its circulating provide has remained unchanged as per information from CoinMarketCap and at the moment stands at 199.99 million TRUMP. Nonetheless, based mostly on insiders’ vesting schedule, the primary batch of the token allotted to the launch group might be unlocked in April.
As extra TRUMP enters the market, this might put stress on the worth within the close to time period, particularly in these difficult situations.
TRUMP Rallied Forward of the Fed’s Assembly however Optimistic Momentum Is Fading
Yesterday, the Federal Reserve saved its rates of interest unchanged because the market anticipated however reassured individuals that two fee cuts are nonetheless on the desk for the yr. The market rallied forward of the FOMC assembly and began to consolidate proper after Powell gave his speech.
The hourly chart exhibits {that a} double-top sample shaped for TRUMP yesterday as the worth motion rejected a transfer above the $11.70 stage. The token has already made a decrease excessive after that, that means that TRUMP is formally on a downtrend on this decrease timeframe.
The Asian session has been bearish for the token to this point whereas momentum indicators are additionally favoring a bearish outlook because the Relative Energy Index (RSI) moved under the sign line whereas the MACD exhibits steadily rising unfavorable momentum readings.
TRUMP may drop to $11 through the subsequent few hours and probably to the excessive $10s as we enter the American session if unfavorable momentum continues. This offers short-sellers the higher hand within the close to time period.
Realizing which meme coins will carry out the very best could be a onerous job. This is the reason Meme Index (MEMEX), a decentralized platform that provides entry to diversified baskets of those tokens, has rapidly turn into one of the profitable crypto presales of the yr.
Solely 11 Days Left to Purchase Meme Index (MEMEX) at Its Presale Value
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