Trump falls 35% from April highs as he denies benefitting from meme currency
Following its April high at $16.44, TRUMP meme currency falls.
President Trump denies benefitting from the meme currency introduced before his administration.
Top 220 TRUMP holders are invited to a dinner at the TRUMP National Club in D.C.
TRUMP joke coin's technical structure suggests losses below $10.00.
The Official Trump (TRUMP) meme currency is trading at $11.12 on Monday, struggling to stay above important support at $10.00. Although it rose somewhat, the meme currency looks to be under sell-side pressure, probably owing to profit-taking.
TRUMP is 32% lower than its April top of $16.44. In an interview with NBC News, US President Donald Trump denied benefiting off the meme token.
President Trump denies benefiting on meme coins.
On Sunday, President Trump denied benefitting from TRUMP, a meme currency established days before his inauguration, in an interview with NBC News' “Meet the Press” host Kristen Welker.
The interview comes amid intense debates about Trump's first 100 days. The President's participation in cryptocurrency ventures, notably via family-owned firms, has been questioned.
Top 220 TRUMP token holders are invited to a dinner at the TRUMP National Club in Washington, D.C., on May 22. After the April dinner announcement, meme currency rose over tariff shock falls to $16.44.
An “ultra-exclusive private VIP reception” with the President and a “special tour” of the White House await TRUMP's token top 25 holders. Applications and background checks are still ongoing, so it is uncertain how many of the top 220 TRUMP token holders will attend the event.
TRUMP token continues to lose April gains after facing resistance between $16.00 and $17.00. Support at $10.00 remains imminent. Still, sell-side pressure below the 12-hour 50 Exponential Moving Average (EMA) at $11.40 and the 100 EMA at $11.83 might exacerbate negative momentum into the April 7 bottom around $7.30.
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