MAGA-related tokens stand to lose a major social catalyst without the influence of Elon Musk, weakening sentiment around speculative meme coins like Official Trump (TRUMP).
The public feud between Donald Trump and Elon Musk has taken a sharp turn, with Trump now threatening to “look into” Musk’s deportation — a dramatic escalation that could rattle the very social sentiment supporting the TRUMP coin price outlook.
Musk has long been a kingmaker in the meme coin scene, with past endorsements prompting the rise of the likes of Dogecoin (DOGE) and Pnut (PNUT).
With hopes of salvaging the relationship fading, investor confidence has dropped, triggering a 5% daily loss and casting doubt on TRUMP’s ability to regain momentum.
As a hype-driven meme coin, TRUMP has relied heavily on high-profile influence—its last major spark being the late-May “Presidential Dinner” for top holders.
Since then, it’s plunged more than 46%, as retail interest fizzles and no new endorsements have emerged.
TRUMP Coin Price Analysis: Does Trump Face a Breakdown Without Musk?
While the slide on the daily has seen the post-breakout momentum of a 1-month falling wedge pattern stall, the $TRUMP coin price still echoes a familiar historical setup.
Trump coin price 1-day chart, historic falling wedge pattern. Source: TradingView, Binance.
It closely mirrors the April breakout from an identical falling wedge pattern—one that also saw price action retrace to a previous lower low as a launchpad for its next upwards move.
However, the RSI lingers in near-oversold conditions at 35. This suggests that sellers are near exhaustion, clearing the path for buyers to step in and continue the upward move.
However, the RSI lingers in near-oversold conditions at 35. This suggests that sellers are near exhaustion, clearing the path for buyers to step in and continue the upward move.
If this setup plays out like the April breakout, a 2x gain could be on the cards, targeting the early March peak at $17.50.7.50.
However, weaker social backing this time—amid Trump’s fallout with Elon Musk—could sap sentiment and stall momentum.
If sell pressure wins out, the pattern could fully break down, invalidating the bullish outlook.
A reversal would rule out a new higher low since the mid-April market bottom and a longer-term uptrend, revisiting support around $7.25 in a 17% dip.
