TRUMP Meme Coin Tanks 16% as Bears Pile On—Just Another Day in Crypto Casino
Short sellers are feasting on TRUMP’s meme coin dumpster fire—because nothing says ’stable store of value’ like a political token bleeding out while crypto bros scream ’buy the dip.’
Volatility? Check. Zero fundamentals? Obviously. Another reminder that 99% of these coins exist solely to separate retail traders from their money? You bet.
TRUMP Traders Make The Most Of The Drop
Traders had anticipated a potential decline this week. The funding rate for OFFICIAL TRUMP was deeply negative — the most bearish it’s been in the past three weeks. This pattern shows that short sellers were highly active, positioning themselves to benefit from the token’s fall.
These traders likely capitalized on the downturn. However, if the price recovers, holding short positions may lead to rapid losses. This creates a possibility for a shift in strategy, with traders now seeking to reduce risk, potentially driving a rebound in TRUMP’s price.
Despite today’s steep drop, macro indicators reveal an optimistic outlook among investors. The Chaikin Money Flow (CMF) remains positive, indicating continued capital inflow into the asset. This bullish signal highlights that buyers still dominate despite the recent market weakness.
The CMF’s strength suggests that the broader market sentiment is not entirely bearish. As long as TRUMP’S CMF holds above zero, investors will likely retain faith in the altcoin’s long-term trajectory. This support from long-term holders may counteract the short-term pressure from speculators.
TRUMP Price Is Safe
OFFICIAL TRUMP is currently trading at $11.08 following a sharp 24-hour decline of 16%. This downturn was triggered when the meme coin failed to break above the crucial $16.00 resistance. The failed attempt led to increased selling pressure, driving the asset downward.
However, TRUMP is still holding above the critical $10.29 support level. This area serves as the final line of defense before a potential slip below $10.00. If investors continue to back the asset, a recovery could follow.
Reclaiming $12.18 as support would signal renewed strength and encourage further accumulation.
That said, heightened bearish sentiment in the broader crypto market could shake investor confidence. Panic selling under these conditions may push the price below $10.29. In such a scenario, OFFICIAL TRUMP could tumble to $9.11, weakening the bullish thesis and extending the decline.
