Trump Valuation Skyrockets 61% in a Week as Apprehension about Dump Mounts, While Solaxy Presale Surges Past $32 Million
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The OFFICIAL TRUMP token price has experienced a rollercoaster ride, skyrocketing over 61% in the past week, although it took a 9% hit in the last 24 hours, trading at $13.74 as of 6:17 a.m. EST.
This recent dip in the TRUMP price stems from growing unease surrounding a potential selloff, sparked by a wallet linked to the team behind the token depositing a substantial amount of TRUMP into leading centralized exchanges. According to Lookonchain, a wallet related to the $TRUMP team deposited 1,346,000 $TRUMP ($19.58M) into Binance, OKX, and Bybit within the past 24 hours.
Is Support for the OFFICIAL TRUMP Token Enough to Hold?
Daily TRUMP/USD chart (Source: GeckoTerminal)
As it stands, the OFFICIAL TRUMP token is hovering above a support level of $13.49, reports from GeckoTerminal reveal. However, if this key point fails to support the meme coin, it may face the risk of plummeting to the next significant levels of $10.97 or even $8.96 if the selling pressure continues.
On the brighter side, a rebound from the $13.49 support can help invalidate the bearish outlook. Going bullish, the OFFICIAL TRUMP price could start rising towards the nearest resistance at $15.63, surpassing this barrier could pave the way for TRUMP to climb as high as $18.90 in the short term.
Are Buyers Losing Their Grip on the OFFICIAL TRUMP Token Price?
Looking from a technical standpoint, signs are pointing towards a continued downtrend for the OFFICIAL TRUMP price over the next 24 hours. With an uptick in sell volume, indicators like the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest potential dropping in the meme coin's price.
Over the past 48 hours, the MACD line has started falling towards the MACD Signal line, suggesting weakening bullish momentum. The MACD line is set to continue its descent, potentially leading to a bearish crossover that could be followed by a drop in the OFFICIAL TRUMP price.
RSI readings have also decreased over the past 48 hours, a typical sign of waning buyer strength. While the current reading of over 50 (slightly bullish) is promising, a negative slope in the RSI suggests an impending bearish shift in power in coming days. This shift becomes evident if the RSI drops below 50, providing the sellers with an advantage.
As the OFFICIAL TRUMP price holds onto support, investors are rushing to snap up Solaxy (SOLX), a new Solana token promising to alleviate network congestion. The popular YouTube channel 99Bitcoins, with over 725K subscribers, estimates that SOLX could surge 100X after its launch.
Solaxy: A Solution to Solana Network Congestion
Recently, Solana has been under strain due to an influx of SOL-based meme coins like the OFFICIAL TRUMP. The result? The network has almost collapsed on several occasions.
To prevent further network downtime, Solaxy will employ layer-2 scaling technologies and its own sidechain, enabling it to process and group SOL transactions off the mainnet and only access the Solana blockchain for final validation. Similar processes are also used by Arbitrum and Optimism within the Ethereum ecosystem. Solaxy's squad has already unveiled a super-fast testnet and a sneak peek at its block explorer, showcasing the technology's potential to handle up to 10,000 transactions per second, potentially catapulting it amongst leaders in the blockchain landscape.
Investors Snap Up SOLX During Presale
The SOLXY project's positioning as the first scalable SOL layer-2 has attracted enthusiastic investors, with the project raising more than $32.2 million through its ongoing ICO [4]. Those interested in investing can acquire SOLX at the presale stage, priced at $0.001708 per token, using either crypto or bank card, via the embedded widget on Solaxy's website [4]. Buyers should act fast to secure the best prices, as the SOLX price will rise in stages as the presale progresses, with the next price hike set to kick in within 3 hours.
Outlook:
- The OFFICIAL TRUMP token, having seen substantial movement, may continue to fluctuate; investor caution is recommended.
- Investors eye the launch of Solaxy, a new Solana token aiming to eliminate congestion issues, while reserving funds for potential price increases.
- Traders are closely monitoring the OFFICIAL TRUMP token, with concerns about a potential selloff arising after a wallet linked to the team deposited a large amount of TRUMP into leading exchanges, as reported by Lookonchain.
- In the finance world of 2025, savvy investors are looking beyond the OFFICIAL TRUMP token and are showing interest in Solaxy, a new Solana token that aims to alleviate network congestion, promising to potentially surge 100X after its launch.
- As the OFFICIAL TRUMP token hovers above a support level, the investing landscape looks similar to the one in 2025, where traders and investors are keeping an eye on various digital assets, much like they are looking at Solaxy, a potential game-changer for the Solana network.
