Trump-Themed Meme Coin Rebounds as Tariff Delay Lifts Market Mood
Support at $8.43 holds as the Official Trump meme currency consolidates before a bullish breakthrough.
As President Donald Trump considers trade negotiations, the US tariff deadline was informally extended until August 1.
TRUMP futures Open Interest stays over $357 million.
Official Trump meme currency is trading at $8.62, above $8.43 support. The coin, introduced days before US President Donald Trump's inauguration in January, displays wide consolidation ahead of a technical breakthrough beyond $10.00 barrier.
US considering tariff grace period extension
The Trump administration is prepared to send letters to US trade partners detailing the additional duties, which may take effect on August 1. President informed reporters over the weekend that the US has trade deals with some nations. Without accords, trade partners might get letters on July 9 alerting them of increased duties.
Market mood is on edge as the 90-day tariff truce ends on Wednesday, despite Commerce Secretary Howard Lutnick declaring “tariffs go into effect August 1, but the president is setting the rates and the deals right now.”
The unofficial deferral to August 1 might give nations three weeks to negotiate trade arrangements with the US. To prevent the effects of increasing tariffs, regions like the EU are negotiating trade treaties.
Despite Bitcoin (BTC) trading at record highs, cryptocurrency market sentiment remains sluggish. The reduction in Trump meme coins' futures Open Interest indicates little retail market interest.
On Monday, CoinGlass shows TRUMP futures Open Interest exceeding $357 million. The green line in the chart below shows sustained token interest, but at lower levels than in April and May, with peaks reaching $800 million.
The Trump meme currency hovers above $8.43, matching crypto market sluggish attitude. RSI and other technical indicators encourage trader hesitation.
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