The price of Trump Coin has recovered to $10.13 today, after a week where cryptocurrency prices fell due to escalating conflict between Israel and Iran.
Nevertheless, TRUMP has decreased by 2% in a week and 19% in the past month, while this meme token has also suffered a large loss of 86% since reaching its ATH of $73.43 in January.
These are concerning percentages, and what’s even more alarming is that the trading volume of TRUMP is currently at a low of $213 million, down 99.4% from the peak recorded in January.
Therefore, it can be argued that TRUMP is undergoing severe decline, although low volume and liquidity may allow this coin to surge if whales come in.
Trump Coin price prediction: Weak trading volume may be a warning sign – or the perfect setup.
Looking at the TRUMP chart, at least we can see that this coin may be about to hit bottom, implying that a price increase may be imminent.
It is particularly noteworthy that the 30-period moving average (orange) has formed a death cross with the 200-period moving average (blue) at the beginning of June.
We also see that the relative strength index of TRUMP (purple) has been below 50 since March 1 until the end of May, which again suggests that a recovery is near.
On the other hand, the aforementioned low trading volume is a major issue and indicates a serious lack of interest in the meme token.
In fact, we have seen evidence of large traders shorting this token in recent weeks, while once-dominant whales have refused to buy back this token while purchasing other meme coins.
All of this is very concerning for this coin and indicates that it is unlikely to survive long-term.
However, considering Donald Trump's self-promotional tendencies, we cannot rule out the possibility that he and/or his team will announce something big to drive the token's price up in the coming days or weeks.
The price of Trump Coin is likely to return to $12 in the coming weeks, before surpassing $16 by the end of July.
More favorable macroeconomic and political conditions will be needed to achieve this, along with improved trading volume, but it is certainly not impossible.