#TrumpCryptoSupport #TRUMP
$TRUMP The recent drop in the price of the coin is attributed to profit-taking after a surge driven by hype following the announcement of Trump's gala dinner. The coin initially rose by 60%, but has now fallen by 18% in the last 24 hours, trading around $11.81.
*Key Factors:*
- *Hype-Driven Rally*: The price of the coin reached a daily high close to $16.1 on April 23 before reducing its gains due to profit-taking.
- *Profit Taking*: Investors withdrew their funds, which forced the price to drop nearly 15.5% on April 24 to a daily low near $11.5.
- *Market Trend*: This follows a common pattern in meme coin markets, where prices rise due to FOMO (Fear of Missing Out) and then decrease as the hype fades.
*Comparison with Other Trump-Themed Coins:*
- *MAGA* and *TREMP* also experienced significant drops following Trump's electoral victory in the U.S., with some losing more than 25% in market capitalization.
- The price movement of the coin *TRUMP* reflects the trend of "buy the rumor, sell the news," common in event-driven tokens
