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Official Trump (TRUMP) – a Solana meme coin launched by President Donald Trump – has been the subject of extreme volatility since its launch barely a week ago.
While it started with a parabolic pump, climbing from $5 to a peak of $73 within 48 hours of going live, Official Trump has constantly traded down since the arrival of another rival meme coin – Official Melania Meme (MELANIA).
TRUMP, according to CoinGecko, is trading around $27 at press time, nearly 62% below its all-time high.
While it recorded a slight surge within the week, perhaps due to its listing on Robinhood and eToro, the Solana meme coin is back trading in the red once again and has gone down by approximately 20% in the last 24 hours.
Likewise, its market valuation, which initially exploded to $17 billion, has fallen significantly and currently hovers around $5 billion.
Should sidelined investors buy the dip or diversify their investments to upcoming meme coin listings like Wall Street Pepe (WEPE)?
Can Bulls Regain Dominance in the Trump Token Market?
The official Trump coin is in a fierce battle to maintain the bullish momentum that brought it into the limelight. While it still trades in the green on the weekly charts, its price has been more on the downside over the past three days, dropping by almost 12%.
Similarly, its daily trading volume has plummeted 30% to $4.17 billion, suggesting a decline in market activity.
A zoomed-out look at the four-hour charts further reveals a bearish force as the meme coin trades within a tight range of a falling edge.
Moreover, the RSI divergence indicator sits at 43.80, reflecting intense selling pressure that could swing the meme coin to the oversold region. Per Dexscreener data, the TRUMP/USDC trading pair has witnessed not less than $79 million sale volume over the past 24 hours, compared to only $35 million purchase volume.
Analysts see this as a bearish signal, suggesting that more downward movement could be on the horizon for TRUMP if sellers persist.
However, should the bulls regain dominance, they may push the token price toward the first resistance at $45. Breaching this level could unlock further upward action, with the next resistance at $59 and a more ambitious target at $74.
Conversely, the Trump coin price could reverse to chase the $18 support.
Sharing more insights into the possible price movement of $TRUMP is 99Bitcoins, a famous crypto YouTube channel with over 723k subscribers. In a recent video, the crypto channel made a bearish case for the Solana meme coin, saying its descending channel and falling wedge pattern suggest the likelihood of a more downward trend in the coming days.
What’s Next For TRUMP Coin?
With sellers still dominating its market momentum, the Trump coin could see a series of lower highs and lower lows in the short-term.
Traders might watch for confirmation signals from the RSI and MACD alignment before entering positions. Right now, the MACD indicator upholds a sell signal, as the blue MACD line (-3.0612) has crossed below the orange signal line (-2.2357).
More so, according to CoinGlass data, $TRUMP’s open interest has dropped drastically to $914.11 million. If the RSI breaks above 50, it could be a bullish trigger. Otherwise, caution is advised.
Nevertheless, as the token oscillates within the tight falling wedge, its next major move may set the tone for its performance in the coming weeks.
Wall Street Pepe – Upcoming Meme Coin Listing With 100x Potential
While another pump is not completely out of sight for $TRUMP, market experts are saying it now has limited upside potential, considering its multi-billion dollar market cap.
It is, therefore, no surprise that smart money investors are turning to low-cap meme coins with bigger growth potential like Wall Street Pepe.
The token’s presale, which is billed to come to a close next month, has been in high demand and will be crushing the $60 million milestone in the coming days.
Unlike $TRUMP, Wall Street Pepe merges humor with tangible utility features, providing token holders with exclusive access to Wolf of Wall Street trading insights, cutting-edge market alpha, and elite tips that will help them outtrade the few whales and amplify their returns.
Another key selling point of this new project is its VIP private group, dubbed the “WEPE Army.” Through this group, members of the community can come together, brainstorm, and share ideas on how to collectively move the market.
Trading competitions will also go live soon, with top performers receiving free $WEPE tokens. In addition to this, Wall Street Pepe offers staking options, providing a passive avenue for presale buyers to compound their gains even before the token is eventually listed on exchanges.
The combination of these standout elements has boosted WEPE’s popularity among investors.
With less than 23 days to its full debut, WEPE is already being considered by leading publications like FinanceFeeds as one of the best opportunities on the market right now.
Likewise, prominent names within the industry have also discussed its high potential, with many even calling it the next 100x gem.
Ahead of its eagerly-awaited launch, those eyeing significant returns in the upcoming bull run may consider taking advantage of the early-moving entry provided by its presale.
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