Trump Meme Coin Rises With Donald Trump Addressing Himself Crypto President; Sell or HODL
From being totally against Cryptocurrency to calling himself the Crypto President, much has changed in Donald Trump’s perspective on this industry. Donald Trump, the ex-U.S. president and the current Republican presential candidate, recently introduced himself as the Crypto president at a fundraiser in San Francisco and criticized the ones putting efforts into its regulations. And the impact of this statement is noticed in the crypto industry, especially in the meme coins like TRUMP.
In this blog, let’s discuss TRUMP’s price performance and whether to HODL or Sell it.
TRUMP Price Jumped 10% After Donald Trump News
This is not the first time the MAGA (TRUMP) token has been affected by the statement and news related to Donald Trump. It was created in 2020, and the MAGA stands for Make America Great Again, supporting Donald Trump. Over time, this Trump-themed coin has gained popularity and offered good profits when the situations were favorable.
Just recently, the meme coin has hiked 10% in the last 24 hours and is currently trading at $12.96 with a market capitalization of $570,298,228. It was declining earlier and is bearing a 26% loss in the week interval after hitting the all-time high target of $17.52.
Since its launch, MAGA has grown 77833.13% in value, indicating the high demand for this meme coin in the market. It is guessed that Donald and the team are using this meme coin to show his interest in the crypto industry. More importantly, to promote himself among crypto users.
Earlier, in May, when the TRUMP price began to rise, it revealed that the Donald crypto holdings had more than $10M in this meme coin. At the same time, Donald also vowed to take satisfactory measures to safeguard the future of these digital assets. Additionally, he will be accepting donations for his campaigns in cryptocurrency.
Whether To HODL or Sell TRUMP?
The TRUMP price chart has formed a declining value in the last few minutes. It can be just a minor correction, or the price can continue to decline. It is because the trend is getting old now. With a week of fall previously, this is the highest value that TRUMP has received, and the sellers seem to be active in the market, making the most of this situation.
On analyzing the TRUMP/ USDT charts, it is still in the buying zone, but the sellers are also active. The simple and the exponential moving averages (10) indicate the selling zone. Moreover, the MACD levels also indicate the same, which clarifies the current decline. However, the Relative strength index is 55, which is a neutral zone. As a result, the ongoing trend might continue without any reversals.
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