TRUMP memes once again fell below $40, can you still buy TRUMP?
On January 18, 2025 Beijing time, US President-elect Trump announced the launch of his personal official token TRUMP memes through social media, and later confirmed the token contract on the X platform, ruling out the possibility of account theft. This news quickly stimulated the cryptocurrency market, and the market value of TRUMP memes exceeded 30 billion US dollars on that day. On January 19th, the price of TRUMP tokens continued to rise sharply, reaching a maximum of 78 US dollars on the Gate.io platform, and the perpetual contract price reached 81 US dollars. The market value once approached 80 billion US dollars, and it entered the top 10 of the cryptocurrency market value in two days.
Then, in the early morning of January 20th, Trump’s wife Melania also announced the launch of her personal official meme coin MELANIA, attracting a large amount of market capital. The market value of MELANIA reached a peak of $13 billion within a few hours, with a trading volume of $18.2 billion.
And just after 1 a.m. Beijing time on January 21st, after Trump was officially sworn in as President of the United States, TRUMP plummeted nearly 50% during the day, nearly approaching the $30 mark. Subsequently, the market panic eased slightly, rebounding to around $48. As of the time of writing, TRUMP memes on Gate.io platform were quoted at $37.13, with a 24-hour decline of -12.49%. The current circulation of TRUMP tokens is only 20%, with a market capitalization of $7.3 billion, ranking 25th in the market.
TRUMP memes Market Analysis
Trading data
- Current price: 37.183 USDT
- 24-hour high price: 43.92 USDT
- 24-hour low: 36.098 USDT
- 24-hour price change: -12.49%
- 24-hour trading volume: 7,101,559.52 TRUMP
- 24-hour net outflow of funds: 79,992,797 USDT
- Market Sentiment: The Fear and Greed Index is 75, indicating an extremely greedy market sentiment.
Support and resistance levels
- Support level: 36.653 USDT
- Resistance level: 39.997 USDT
Trading strategy advice
Strategy 1: Short-term rebound trading
- Direction: Bullish
- Entry price: 36.70 USDT (close to support level)
- Stop loss price: 36.30 USDT (below support level)
- Target price: 39.50 USDT (near resistance level)
Reasons and characteristics: The current price is close to the support level, and the market may rebound. The extremely greedy market sentiment may push the price up. Set stop loss to control risk, and set the target price near the resistance level to ensure profitability during the rebound.
Strategy 2: Breakout Trading
- Direction: bearish
- Entry price: 40.00 USDT (after breaking through the resistance level)
- Stop-loss price: 40.50 USDT (above resistance level)
- Target price: 36.50 USDT (near support level)
Reasons and characteristics: If the price breaks through the resistance level of 39.997 USDT, it may trigger more buying sentiment, followed by a possible pullback. Set a stop loss to prevent the price from continuing to rise, and set the target price near the support level to profit from the price correction.
Future Outlook
From the circulation market value and FDV of TRUMP token, its potential for upward movement is already limited. In the absence of higher highs in the market value of BTC and the entire crypto market, TRUMP token may have difficulty delivering a more impressive performance.
However, the launch and market performance of the TRUMP token still attracted widespread attention, not only because it is closely related to Trump’s personal brand and political image, but also because of the emerging trend of ‘politics + cryptocurrency’ that it represents. TRUMP token is not just a cryptocurrency, but also a part of the Trump brand, representing a specific political and cultural symbol. As a type of Meme coin, the political symbols and influence behind the TRUMP token may become a support point for its long-term survival. If Trump continues to be active on social media and constantly promotes the token, the TRUMP token may transform from a simple investment tool to a cultural symbol.
