Trump Coin’s Technical Buzz faces Real Risks
The Official Trump (TRUMP) coin has been forming optimistic chart patterns recently. It’s seen a double bottom at $8,suggesting resistance against further drops. A falling wedge pattern hints at potential future gains. Technical indicators like RSI and MACD show signs of bullish divergences.
Despite these hopeful signals, major risks loom large. data shows whale investors reducing their TRUMP coin holdings by almost a million in recent months. Additionally, the availability of TRUMP coins on exchanges such as Binance, Robinhood, and OKX has risen significantly, hinting at increasing sell pressure.
- Nearly 130 million TRUMP coins are now available on exchanges.
- The total TRUMP coin supply will swell by another 800 million in coming years.
Launched on January 17, 2025, the TRUMP coin quickly captured attention due to its timing near President Trump’s inauguration. As its debut, the coin’s fortunes have mirrored its ties with the Trump brand, attracting both praise and criticism.
Opponents criticize the TRUMP and WLFI ventures for potential conflicts of interest. As a notable example, concerns rise around pay-for-access dinners and foreign investments influencing policy stances.
while the TRUMP coin exhibits promising technical signs, its long-term success depends on overcoming fundamental obstacles and investor doubts.
