Why did Trump Coin (TRUMP) crash?
Dinner candidate hype fell flat
Previously, the market was buzzing that holders of Trump Coin would have a chance to be selected for Trump's dinner list, but only 220 were chosen. This wave of expected hype drove up the coin's price, but reality did not meet expectations, leading to a sell-off. Ironically, the total value of the Trump Coins held by these 220 people amounted to a staggering $150 million—indicating that big holders might have been preparing to cash out long ago.
GDC's $300 million investment questioned
The company behind Trump Coin, World Freedom Financial (WFF), received a $300 million investment from GDC, but experts laughed at the details:
The market value is only $34 million, which cannot support such a large investment.
The equity is worth only $2,700, clearly a façade.
This kind of “inflated” operation made investors feel unreliable, leading to a direct sell-off.
Negative news continues for Trump's crypto project
World Freedom Financial (WFF) has recently been exposed for a slew of issues, raising concerns in the market about whether this project is just another scheme to exploit investors.
Both bulls and bears are on the sidelines
Coinglass data shows that while some are going long and others are going short, overall trading volume is declining, indicating that investors are hesitant to enter the market easily, fearing being trapped.
What will happen next?
If the decline continues, it may drop below $10.
If Trump's campaign improves or there are new positive stimuli, it could rebound to $16 or even higher.
Summary: Trump Coin now resembles a roller coaster, with short-term views based on sentiment and long-term views based on Trump’s campaign performance and the project's authenticity. If you are a short-term player, be careful of being exploited; if you are a believer, then good luck to you.
As the market continues to change, we need to closely monitor market signals and seize new entry opportunities. Like + comment + follow, we'll take you through the bull market to firmly grasp this major opportunity!
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