Trump Official Memecoin Plummets Below $10 After Tariff War

In a response to U.S. President Donald Trump announcing new tariff agreements with several countries, the cryptocurrency sector faced a significant setback as Trump's official memecoin fell below $10 for the first time on Wednesday. The price of memecoin $TRUMP is officially facing strong downward pressure on the technical chart, as it has dropped more than 10% in the last 24 hours. Currently, it is trading below the (EMA) 50-day and 200-day moving averages, indicating extreme pessimism. Experts believe that the panic sell-off is due to uncertainty over tariffs. Concerns about the trade war are causing investors to hesitate to invest in riskier assets, and analysts are warning of potential market turmoil. Trump's tax announcement has caused panic among holders of the TRUMP cryptocurrency, as over the past month, the price has fallen by 24.08%, in the last seven days, the price has decreased by 19.59%, and in the past 24 hours, the price has dropped by about 10%.

According to data from LunarCrush, social interaction metrics are at their lowest, indicating a negative sentiment among investors. Social metrics highlight that mentions and interactions with the cryptocurrency TRUMP on social media platforms like X, Reddit, Telegram, and many others have decreased recently. Technical indicators support sellers, indicating a negative outlook for buyers. The RSI and MACD indicators are moving near the overbought region, while the main EMA lines act as resistance levels for the TRUMP price. On April 3rd, the price of TRUMP opened at $10.44, then reached a low of $8.99, and closed at $9.17, marking a decline of over 12%, indicating pessimism. Currently, the price is receiving support at $9.10. If this support level is broken, investors may witness further decline. Furthermore, at the time of writing, the OFFICIAL price of TRUMP ($TRUMP) is trading at $9,374 with a daily trading volume of $852.79 million and a market capitalization of $1.86 billion.