The Official Trump price has slumped 2% in the last 24 hours to trade at $9.22 on a 45% plunge in daily trading volume to $152 million.
The TRUMP price dip comes as DT Marks DeFi LLC, a company owned by the Trump family, is slowly selling its shares in World Liberty Financial (WLF), a crypto company facing growing political scrutiny.
According to a Forbes report, DT Marks DeFi LLC, held 75% of WLF in December 2024. By January, that dropped to about 60%, and by mid-June, it was down to 40%. It’s not clear if the family made a profit, but Forbes estimates they may have earned millions from the sale.
While it’s unclear if the family profited from the selloff, Forbes estimates suggest the sales could have generated millions. However, this move comes as U.S. lawmakers push for investigations into Trump’s crypto ties.
Trump-Backed Crypto Firm Under Fire
In March, WLF launched its own stablecoin, USD1, just as Congress advanced the GENIUS Act, a bill to regulate stablecoins. The bill passed the Senate but may face pushback in the House over Trump’s involvement. Still, Trump has urged lawmakers to pass it quickly.
WLF has drawn further scrutiny for its expanding crypto ambitions and political links. In May, an Abu Dhabi firm announced plans to use WLF’s USD1 token for a $2 billion investment in Binance.
Meanwhile, disclosures reveal the platform raised about $550 million through two token sales, and Trump personally reported more than $57 million in income from the venture as of June.
OFFICIAL TRUMP Price Stuck in Sideways, But Breakout Could Be Coming
The TRUMP token is trading at $9.22 after a small drop of 1.39% in the past 24 hours. After a strong price rally earlier this year, the token has now been moving sideways for several weeks, stuck between $8.50 and $16.
The chart shows that TRUMP has strong resistance at $16. That means the price struggles to go above this level. It also has support between $8 and $9, which could prevent it from falling further. If buyers step in at this support zone, the token could rise again and try to break past $16.
The RSI (Relative Strength Index) is currently at 38, which means the token is not yet oversold but is close. This suggests some weakness in buying interest, but also that a bounce could happen soon.
TRUMP Token Could Soar if It Clears $16 Barrier
If TRUMP breaks above the $16 resistance, it could rally toward the next major target zone near $28. This would be a big move and could attract more traders.
The recent approval of the GENIUS Act by the Senate, a bill supporting stablecoin regulation, could also boost confidence in political-themed cryptocurrencies like TRUMP.
For now, TRUMP is moving sideways. But if it holds above support and breaks resistance, a strong upward move could follow.
