A buzzworthy yet ultimately disappointing dinner event was hosted by Donald Trump himself on May 22nd, gathering the 220 largest holders of the TRUMP token.
Notable guests included Tron founder Justin Sun and NBA champion Lamar Odom, giving the event considerable visibility within the crypto community.
TRUMP Holders Attending The Dinner
Source: X (@sheldonbitmart)
Yet, while the spectacle briefly energized interest, TRUMP’s price has continued a slow downward trajectory, slipping 2% over the past week and 13.5% over the past month.
TRUMP’s all-time high of $73.43, reached on January 19th which was also the day before Trump’s inauguration, now seems like a distant memory. Since then, the meme coin has plummeted by over 82%, eroding much of the hype that initially fueled its meteoric rise.
Despite this stark correction, the United States President’s active promotion and public appearances suggest that TRUMP is far from a forgotten asset. With his reputation for turning attention into action, many traders believe another rally could be in the works.
Current market indicators suggest TRUMP may be approaching a local bottom. Its 30-day moving average is nearing a crossover below the 200-day moving average, a classic bearish signal known as the “death cross.”
This typically signals a short-term selloff but may also reset the stage for a potential rebound.
TRUMP’s Chart Indicating A Potential Bottom
Source: TradingView
TRUMP’s Relative Strength Index (RSI) has dropped below 50 and appears to be heading toward the 30 mark. If it crosses below this threshold, the token will enter oversold territory, a traditional precursor to a potential bounce.
TRUMP’s daily trading volume has dropped to $560 million, its lowest level since mid-April. The sharp decline reflects a cooling of interest, possibly as traders adopt a wait-and-see approach after the dinner failed to deliver immediate price action.
Still, the presence of high-profile attendees like Justin Sun and Lamar Odom signals that TRUMP has backing from influential figures in both tech and entertainment.
Despite current weakness, TRUMP’s association with a media-savvy figure like Donald Trump gives it a unique edge among meme coins. His unpredictable and provocative behavior could easily reignite enthusiasm and push TRUMP into another rally.
TRUMP could fall further to test support around $12, especially if volume continues to decline and no new announcements surface.
Assuming Donald Trump remains actively involved and triggers another wave of media attention or political spectacle, TRUMP could mount a recovery toward $20. This would represent a 56% increase from current levels, a feasible target if speculative momentum returns.
TRUMP is a meme-based cryptocurrency associated with U.S. President Donald Trump. It functions largely on hype, sentiment, and Trump’s public engagement.
Despite high expectations, the May 22nd dinner did not lead to any major announcements or endorsements beyond attendance. As a result, many investors were left uncertain, leading to a dip in interest and price.
As with all meme coins, TRUMP is highly speculative and volatile. While it may benefit from media-driven pumps, its long-term fundamentals are uncertain. Invest cautiously and never risk more than you can afford to lose.
While possible, returning to its ATH of $73.43 would require major media events, high-volume trading, and renewed investor enthusiasm. As of now, a return to $20 is more realistic in the medium term.
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Content Strategist
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