TRUMP coin has taken a heavy hit, dropping 17% overnight and now sitting 70% below its pre–tariff war highs from just over two months ago.
Appetite for risk assets has cooled after global investment markets plummeted in an event likened to 1987’s Black Monday—hitting top meme coins particularly hard.
Still, today brings a slight turnaround. The wave of market-wide liquidations has sparked a broader “buy-the-dip” push, nudging TRUMP up 2.75% on the daily.
Could TRUMP Coin be Wiped Out?
Celebrity meme coins are intrinsically tied to hype and public perception, with Trump’s approval rating slipping to 46% amid aggressive foreign policy moves, TRUMP has taken the hit.
Trump’s approval rating as of April 7. Source: The Economist.This follows past legal action calling for an investigation into whether Trump violated federal laws by promoting and soliciting money for his meme coin.
With stacking controversies and the bearish market backdrop, TRUMP coin stands to lose its status as a billion-dollar meme coin.
TRUMP Price Analysis: ‘Buy-the-Dip’ opportunity?
A rally may well be in Trump coins cards, with the breakout of a symmetrical triangle pattern forming since early February.
Since the breakout, the meme coin has slipped into a descending channel.
Today’s “buy-the-dip” event marks a bounce marks a key retest of the triangle’s upper boundary and the channel’s lower support—an early signal the bulls may be eyeing a move.
Since the breakout, the meme coin has been trading within a descending channel, with today’s rebound marking a successful retest of its lower support and the upper boundary of the triangle.
If buying pressure returns, TRUMP could retest the channel’s resistance. A breakout there could confirm the triangle’s path, setting up an 80% rally to $14.
With the Relative Strength Index (RSI) now below 28, TRUMP sits deep in oversold territory—indicating seller exhaustion and leaving room for bulls to take charge.
However, risks remain. The MACD has just printed a death cross and is beginning to drift further below the signal line, suggesting downward pressure could linger.
If the current support fails, the descending channel could break down—potentially setting a bottom around $3 and fully invalidating the bullish triangle setup.
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