Demand for $TRUMP is falling
The correlation between Bitcoin and TRUMP at the time of writing this analysis is only 0.15. This indicates that TRUMP does not follow BTC: the meme coin cannot take advantage of the current rise of the coin, suggesting a bearish scenario.
Holders of TRUMP realize that the meme coin may continue to decline regardless of Bitcoin's dynamics. Without support from Bitcoin's growth, the chances of a trend reversal for TRUMP are minimal.
The overall macroeconomic situation for TRUMP looks concerning. The funding rate, reflecting trader sentiment, is fluctuating, indicating uncertainty. This suggests that traders have begun to realize losses and are switching to shorting the meme coin.
Changes in trader sentiment show that confidence in the recovery of TRUMP is decreasing. Fluctuations in the funding rate indicate a change in the market dynamics of the meme coin.
