OFFICIAL TRUMP Price Tumbles as Justin Sun Plans Another $100M Purchase of Trump Memecoin
TRUMP price slides over 4% even as Justin Sun announces a $100 million buy plan, to support the market volatility
The OFFICIAL TRUMP price has tumbled 4.18% in the last 24 hours, to trade at $9.58, on a 55% plunge in the daily trading volumes to $434 million.
The TRUMP price drop happens despite Justin Sun, who started the TRON blockchain and is well-known in the crypto world, saying he plans to buy $100 million worth of TRUMP tokens. He shared this news on social media and said he wants to make TRUMP popular in Asia and worldwide.
This big purchase will happen as TRUMP is being connected to the TRON network, making the partnership between Sun’s blockchain and Trump’s crypto projects even stronger.
Justin Sun already owns almost $19 million in TRUMP tokens and has invested in other Trump-related crypto projects before. People see his latest move as both a smart investment and a political message, especially since the current U.S. government is friendly toward crypto.
OFFICIAL TRUMP Price Struggles at Support, Faces Resistance at $9.95
The TRUMPUSDT trading pair on the daily chart has had a hard time keeping its early gains. The token hit a high of $74.27 in January, but now it has dropped more than 87% from that peak. The price has been unstable, falling 4% in the last day and 2.85% in the last month, but trading activity is still strong.
TRUMP is trading at $9.58 and has dropped below important support levels. The next support is at $8.38. The 50-day Simple Moving Average (SMA) is at $9.95, which now acts as a resistance level. When the price is below this SMA, it usually means the trend is still negative.
TRUMPUSDT Analysis Source: Tradingview
The Relative Strength Index (RSI) is at 53.37, which means buying pressure is starting to grow, but the market is still unsure. If bears take over the market, the price could fall more, but if buyers step in, we could see a reversal.
As the spotlight shines on TRUMP and Justin Sun’s bold $100 million move, all eyes are on whether this high-stakes play can spark a turnaround for the memecoin. While some see it as a bullish signal for TRUMP and the broader memecoin sector, the continued price decline highlights ongoing uncertainty.
The next few weeks will be important for TRUMP, with new developments and token unlocks coming up.
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