Trump Memecoin ($TRUMP) Plunges Below $10 Amid Trade War Fears

The crypto market faced renewed volatility as U.S. President Donald Trump’s latest tariff policies sent shockwaves across financial markets. The official Trump memecoin ($TRUMP) plummeted below $10 for the first time, reflecting investor uncertainty.

Over the past 24 hours, $TRUMP has declined by more than 10%, now trading below both the 50-day and 200-day Exponential Moving Averages (EMAs)—a strong indication of a bearish trend.

Investor Sentiment Turns Bearish Amid Market Uncertainty

Market analysts attribute the sharp sell-off to growing fears of a trade war, which have historically led to risk-off sentiment in the financial markets. With investors pulling back from speculative assets, $TRUMP has suffered a staggering 24.08% loss over the past month, including a 19.59% drop in the last week alone.

Social media engagement metrics from LunarCrush indicate a steep decline in investor enthusiasm, with activity on X (Twitter), Reddit, and Telegram hitting their lowest levels in weeks.

Technical Analysis: Can $TRUMP Recover?

• Support & Resistance: $TRUMP is currently hovering around $9.10, a critical support level. A breakdown below this point could open the door for further declines.
• EMA Resistance: The 50-day and 200-day EMAs are acting as major resistance, suggesting continued downside pressure.
• Indicators: The RSI and MACD are signaling overbought conditions, further reinforcing a bearish outlook.

On April 3, $TRUMP opened at $10.44, dropped to $8.99, and closed at $9.17, reflecting a sharp 12% daily decline. With the token struggling to hold above support, traders are bracing for potential further downside.

Current Market Overview

At the time of writing, $TRUMP is trading at $9.374 with an intraday trading volume of $852.79 million and a market capitalization of $1.86 billion.

Will $TRUMP recover, or is this the beginning of a prolonged decline? Investors should watch key support levels closely as market sentiment remains fragile.