TRUMP Coin Tanks 78% – Could This Be the Biggest Crypto Collapse of the Year? Simon Chandler | usagoldmines.com

TRUMP Coin has dropped by 3% in the past 24 hours, with the meme token’s fall to $16.19 also representing a massive 78% decline on its all-time high of $73.43 on January 19.

TRUMP is also down by 15% in a week and by 40% in the past month, while its trading volume has also plummeted from $42 billion in January to only $1.5 billion today.

This all indicates a massive loss of interest in the token, which has also suffered as a result of the ongoing tariff war between the US and other nations.

And given that there is nothing supporting TRUMP’s price other than its association with a sitting president, it may have begun a terminal decline.

TRUMP Coin Tanks 78% – Could This Be the Biggest Crypto Collapse of the Year?

After surging in the few days leading up to Donald Trump’s inauguration, TRUMP Coin has dived dramatically, with holders either taking profits or cutting losses in the days following January 20.

Its one-hour chart today shows the token in a very oversold position, although its RSI (purple) is bouncing back after falling below 30 overnight.

But we also see its 30-period average (orange) travelling well below the 200-period average (blue), indicating that TRUMP remains very much with a slump.

Things are actually worse if you look at its four-hour chart, which shows the coin’s RSI at about 40 today, and as having languished under 50 for the past couple of weeks.

As such, TRUMP doesn’t look like it will really pick up steam anytime soon, even if its indicators do say, at least in theory, that it’s oversold.

The last big transfer involving TRUMP Coin relates to a big dump of the token, rather than to a buy, with one whale sending 6.3 million TRUMP (then worth $120.2 million) to Bybit on January 6.

And it seems that the alt hasn’t really recovered from this dump, with the current macoeconomic situation – involving tariffs and the possibility of rising inflation – also conspiring to keep its price down.

Of course, critics would say that the biggest problem with TRUMP Coin is that it exists solely as a vehicle to make Trump and his associates profits, with estimates from three blockchain analysis firms suggesting that the business behind the token made $100 million in trading fees alone within the first two weeks of its listing.

This may prevent it from ever recovering fully, although in the shorter term it could bounce back up to $20 if market conditions allow.

New Alts with Stronger Fundamentals

It’s likely that TRUMP Coin’s best days are well and truly behind it, which means that traders looking for market-beating profits will have to turn elsewhere.

This would include considering new alts but also presale coins, with the biggest of these often surging when they list on exchanges.

One contender that could do this is Best Wallet Token (BEST), a new ERC-20 cryptocurrency that has now picked up $9.5 million in its ongoing token offering.

BEST is the native token of Best Wallet, which has become one of the most popular software wallets in crypto since launching in 2023, serving 250,000 monthly users.

Key to Best Wallet’s growth and popularity is its market-leading range of features, with the wallet app compatible with other 200 chains and 15 bridges, while also offering a unique project screener feature.

And what’s bullish about BEST is that it will provide Best Wallet users with numerous benefits, such as lower transaction fees, higher staking rewards, governance rights, and early access to new presales and airdrops.

So given that Best Wallet is such a big app, demand for BEST could be substantial, pushing up its price over time.

New buyers can join the presale by going to the official Best Wallet Token website, with BEST now selling at $0.023925.

This price will climb again later this evening, so interested parties should make a move before it’s too late.

The post TRUMP Coin Tanks 78% – Could This Be the Biggest Crypto Collapse of the Year? appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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