@BounceBit brings institutional yield strategies on-chain. Built in collaboration with custodians and fund managers like BlackRock and Franklin Templeton, BounceBit Prime gives users direct access to tokenized RWA yield...in the crypto space. Bounce it RWA. #BounceBitPime , $BB
What's your Biggest loss trading crypto Futures? This is mine. $AAVE and $SOL murdered me over the weekend..when I gave the first try. I will update you on a daily on the recovery journey.
the coin will be stable and good trade option for the next 4yrs of office. they can't allow it to go down...
BeInCrypto Global
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TRUMP Meme Coin Dips Briefly After Donald Trump Says “I don’t know much about it”
In a press conference on January 21, US President Donald Trump responded to questions about his meme coin, TRUMP, admitting that he had limited knowledge of the token despite its market success.
His comments led to a brief dip in the token’s price, which subsequently rebounded.
Donald Trump Talks TRUMP Coin: Price Fluctuates
Speaking from the White House, Trump responded to inquiries about whether he was personally benefiting from the token, stating that he was unsure if he had profited from it.
The conference primarily focused on the announcement of a $500 billion investment in the “Stargate AI” artificial intelligence infrastructure project. President Trump was joined by OpenAI CEO Sam Altman, Oracle’s Chief Technology Officer Larry Ellison, and SoftBank CEO Masayoshi Son.
When asked about TRUMP, the President appeared uncertain about its details.
“I don’t know where it is. I don’t know much about it other than I launched it, other than it was very successful,” Trump said.
Following his remarks, the token’s value briefly plummeted, prompting reactions from the financial community. Alex Krüger, founder of Aike Capital, highlighted the decline on social media platform X (formerly Twitter).
Bloomberg analyst James Seyffart also weighed in.
“Trump just nuked his own meme coin,” Seyffart noted on X.
Despite the temporary setback, TRUMP quickly rebounded. At the time of reporting, it was trading at $41.24, reflecting a 15% increase in the past 24 hours.
TRUMP Price Performance. Source: CoinGecko
The meme coin’s market capitalization stood at $8.24 billion. This marked a notable increase as the token’s market cap dropped to $7.5 billion after inauguration day.
When informed that his token generated billions, Trump remarked, “Several billion … that’s peanuts for these guys,” gesturing toward the CEOs accompanying him.
The “Official Trump” token, launched last week, experienced a rapid surge of over 1,100%, rising from $6 to $75 within 36 hours. However, the ownership stake remains unclear, with two entities tied to the Trump Organization controlling 80% of the supply.
Notably, the latest Forbes analysis debunked claims of a $58 billion windfall for Trump. The analysis highlighted that these estimates were based on the token’s fully diluted valuation, which factors in non-circulating tokens. With 800 million tokens locked, an 80% stake is estimated at $6.2 billion, though this figure is subject to market fluctuations.
Despite the volatility, the broader market has shown significant interest in meme coins. As BeInCrypto reported earlier, Rex Shares recently filed for meme coin exchange-traded funds (ETFs) that include TRUMP, BONK, and DOGE.
Meanwhile, meme coins stay true to their volatile nature, with TRUMP not being the only one experiencing sharp fluctuations. First Lady Melania Trump’s meme coin, MELANIA, hit an all-time high of $13 on January 20 but later dropped to around $4.
There is what we call *Bullish traps* and *Bearish traps*. It can happen at the same time in the market.
A bear trap in trading refers to an illusion which leads traders into believing that a downward trend in an asset or market may soon reverse, creating an opportunity to buy. The term bear trap refers to its ability to trap traders who enter bullish positions prematurely at what appears to be trend reversals.
Bull traps occur when there is a temporary halt or reversal in an upward price movement in assets or markets, creating the false impression that it might start declining (become bearish). Traders may mistake this dip as an opportunity to sell off holdings or take short positions, in anticipation of sustained downward movement.
*In both scenarios Billions of dollars are whipped from the market*.
*Lesson*: It's only Spot trading with Royal Q which can save you from this because of its ability to enable traders to execute trades with Margin calls.
*The Royal Q Robot is built with an AI ability to automatically employ the DCA (Dollar Cost Averaging) technique during a down trend*
Great investment deal is here thanks to @Mbeyaconscious for the post.
Mbeyaconscious
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The Mighty Bull run is around the corner. check out my post on the #BTC dump which happened on 14th/11/2023.
WOTvC
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Bullish
#BTC price drops, $90 million in open interest wiped out amid jitter over spot #BTC ETF window closing.
Bitcoin price has dropped almost 5% on Tuesday to lose the $35,500 level as crypto markets grow anxious ahead of November 17. The move has seen $119.246 million long positions liquidated with a $90 million drop in open interest for BTC. Altcoins have also been wiped out, recording $194.57 in total altcoin liquidations amid immense selling pressure. November 17. $BTC #BTCRally
#BTC price drops, $90 million in open interest wiped out amid jitter over spot #BTC ETF window closing.
Bitcoin price has dropped almost 5% on Tuesday to lose the $35,500 level as crypto markets grow anxious ahead of November 17. The move has seen $119.246 million long positions liquidated with a $90 million drop in open interest for BTC. Altcoins have also been wiped out, recording $194.57 in total altcoin liquidations amid immense selling pressure. November 17. $BTC #BTCRally