$TRUMP
TRUMP Meme Coin Drops 35% From April Highs as Trump Denies Any Involvement
The TRUMP meme cryptocurrency, which hit a high of $16.44 in April, has fallen 32% and is now trading at $11.12. Despite a small recovery, it is under pressure from sellers, likely due to profit-taking. The coin is struggling to hold support at $10.00.
President Donald Trump has denied any involvement or financial benefit from the TRUMP token. In an interview with NBC’s Meet the Press on Sunday, Trump said he did not profit from the meme coin, which was launched just days before his presidency began.
Questions have been raised about Trump’s connection to cryptocurrency through his family’s businesses, especially as debates around his first 100 days in office continue.
On May 22, the top 220 holders of the TRUMP token have been invited to a dinner at the Trump National Club in Washington, D.C. The top 25 holders will also get a private VIP reception with the President and a special tour of the White House. Background checks are still ongoing, so it’s unclear how many holders will be allowed to attend.
After the dinner was announced in April, the TRUMP coin surged, reaching its peak. But since then, it has faced heavy resistance between $16.00 and $17.00. Now, it’s falling again, and if it drops below the key support level at $10.00, losses could deepen toward the April 7 low of around $7.30. The price is also under pressure as it stays below both the 50 and 100 EMAs on the 12-hour chart.