Is TRUMP’s Downward Spiral Finally Over? You Won’t Believe This! 😲

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In a most delightful twist of fate, after languishing in a veritable abyss for eight long days, the illustrious TRUMP may have finally graced us with its presence at the princely sum of $25, as proclaimed by the ever-astute analysts.

Our dear analyst, Andrew Kang, a veritable oracle with a following of over 354,000 on X, has declared that the Official Trump (TRUMP) has indeed hit rock bottom at $25 on the 27th of January. This, dear reader, is a staggering decline of approximately 68% from its glorious zenith of $73.43, achieved on the 19th of January, a mere day before the grand inauguration of the man himself, Donald Trump.

With the finesse of a seasoned artist, the analyst based his musings on a 4-hour TRUMP/USDT chart, which revealed a bottoming structure and a delightful reversal of momentum, with TRUMP finding a cozy little support at $25. How quaint!

Moreover, Kang, with a twinkle in his eye, noted that this meme coin has maintained a rather modest market cap for a brand that is, dare I say, more recognizable than Ethereum itself. “A paltry $6 billion market cap for such a renowned brand!” he quipped, as if the universe were playing a grand jest.

Market commentator ‘Captain Faibik’ chimed in with a similar sentiment, suggesting that TRUMP has donned a bullish pattern that may very well signal the end of its dismal downtrend. How positively thrilling!

On the 4-hour chart shared by our dear Captain, TRUMP appears to have triumphantly broken above a falling wedge pattern, a most auspicious sign of a robust bullish reversal in the realm of technical analysis. The trader now anticipates a rebound of around 105% from $27, the level at which it so gallantly broke above the pattern. One can only hope!

Launched on the 17th of January as a tribute to the man himself, the meme coin soared to its all-time high of $73.43 in a mere 48 hours, while its market cap surpassed a staggering $14.5 billion. Alas, it has since plummeted by approximately 60%, stabilizing over the $25 support level, with a market cap now resting at $5.8 billion, securing its position as the 31st largest altcoin in this whimsical market.

Market trends support the bullish case for TRUMP

Demand for TRUMP has surged among derivative traders, with CoinGlass data revealing a delightful 15% daily increase in open interest in its futures market, now standing at a princely $939 million. Rising open interest typically indicates a growing market participation and bullish sentiment, suggesting that new money is flowing into the TRUMP market, reinforcing the ongoing upward price movement. How positively delightful!

Whales, those magnificent creatures of the crypto sea, have also taken a renewed interest in TRUMP over the past few days, having previously offloaded their holdings. They have returned, rotating funds from other assets into this charming memecoin.

According to the ever-enthusiastic crypto market commentator MartyParty, a whale who once purchased $23.4 million worth of TRUMP and sold at the peak for a staggering $38 million has begun to accumulate the meme coin once more. How very generous of them!

On-chain tracker Whale Watch has flagged several large transactions in the past 24 hours. Notably, an ARC whale and an ACT whale bought $371.41k and $12.92k worth of TRUMP tokens, respectively. Such extravagance!

Earlier, another whale was spotted purchasing a jaw-dropping $29.6 million worth of the meme coin from the crypto exchange Crypto.com. (See below.)

🚨 🚨 1,000,000 #TRUMP (29,601,000 USD) transferred from #CryptoCom to unknown wallet

— Whale Alert (@whale_alert) January 24, 2025

Another positive indicator supporting the bullish narrative around TRUMP is its Relative Strength Index on the 1-day chart, which stood at 39, tantalizingly close to hitting oversold levels. At this juncture, assets often experience a delightful reversal as buyers step in, driving the price upward. How thrilling!

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2025-01-28 12:44