TRUMP Coin Dips 13% Following Trump’s Rally Attempt – Can It Rebound?

• TRUMP meme coin has dropped 13% despite Donald Trump’s promotion on Truth Social.  
• Market pundits debate whether the dip is a buying opportunity or a sign of further decline.  

Inspired by former U.S. President Donald Trump, the Solana-based TRUMP meme coin has faced significant selling pressure, dropping 13% in the last 24 hours to trade below $20.

This decline comes despite Trump’s attempt to promote the coin on his social media platform, Truth Social. The coin is now down 33% on the weekly chart and a staggering 70% from its all-time high of $75..  

What’s Driving the Decline?  

Despite Trump’s enthusiastic post on Truth Social , where he wrote, “I LOVE $TRUMP!!”, the coin failed to gain traction. Instead, it faced increased selling pressure, with daily trading volume surging by 65% to over $4.4 billion as traders rushed to offload their holdings.  

Data from Coinglass reveals that open interest for TRUMP has also fallen by 13% to $720 million, while 24-hour liquidations soared to $15 million, with $11 million coming from long positions. These metrics suggest a lack of confidence among traders, further compounded by the broader crypto market downturn.

Another cause of the recent decline in value followed Trump’s remarks to reporters: I don’t know much about it, except that I launched it, and it was very successful.!

As we earlier reported , Industry insiders including CEO of Ark Investment, Cathie Woods, have also termed it as a cryptocurrency with no utility other than for fun or speculation.

Is This a Buy-the-Dip Opportunity?  

Despite the bearish momentum, some market analysts see the current price drop as a potential buying opportunity. Captain Faibik, a well-known analyst, pointed to a “falling wedge” pattern on the TRUMP chart, which often signals a bullish reversal. “Buying the $TRUMP dip! The falling wedge is still in play, expecting a strong bounce back,” he stated on X .  

Trump’s attempt to pump the TRUMP meme coin launched on Jan. 1 just ahead of Trump’s second inauguration, has drawn criticism from industry players. Anthony Scaramucci, founder of SkyBridge Capital, slammed the move, calling it a failed effort to manipulate the market.

The result has been an acceleration of the ‘dump,’ now down 70% from its peak. The jig is up,Scaramucci wrote on X .    

While some investors remain hopeful for a rebound, the coin’s future hinges on whether it can regain market confidence and overcome the current bearish sentiment.