The Trump Coin price has recovered to $10.13 today, after a weekend that saw cryptocurrency prices decline in response to the escalating conflict between Israel and Iran.
Despite this, TRUMP remains down by 2% in a week and by 19% in the past month, with the meme token also nursing a steep 86% loss since reaching an ATH of $73.43 in January.
These are concerning percentages, and what’s also troubling is that TRUMP’s trading volume currently stands at a lowly $213 million, a 99.4% decline from peaks recorded back in January.
It’s therefore arguable that TRUMP is suffering from a terminal decline, although its low volume and liquidity could enable it to pump hard if a whale swoops in.
Looking at TRUMP’s chart, we at least see that the coin may be close to bottoming out, implying that a rally could be on its way.
Of particular note is its 30-period average (orange), which formed a death cross with the 200-period (blue) at the start of June.
We also see that TRUMP’s relative strength index (purple) has been below 50 since the final third of May, which again points to an approaching recovery.
On the other hand, the aforementioned low volume is a big issue, and indicates a serious lack of interest in the meme token.
In fact, we’ve seen evidence of big traders shorting the token in recent weeks, while one-time whales have declined to repurchase the token while buying other meme coins.
This is all very ominous for the coin, and would suggest that it doesn’t have long-term viability.
However, given Donald Trump’s penchant for self-promotion, we can’t rule out the possibility that he and/or his team will announce something big to pump the token in the coming days or weeks.
The Trump Coin price could potentially return to $12 in the next few weeks, before passing $16 by the end of July.
It will need more favorable macroeconomic and political conditions to achieve this, while it will also need its trading volume to improve, but it’s certainly not out of the question.
Because TRUMP looks pretty questionable right now, many traders may already want to turn to alternatives, with several presale coins showing promise as investment vehicles.
One of these is Bitcoin Hyper (HYPER), an Ethereum- and Solana-based layer-two project that has now raised more than $1.3 million in its ongoing sale.
Given that it launched this sale only a few weeks ago, this figure is a strong sign of Bitcoin Hyper’s future potential.
Indeed, Bitcoin Hyper is preparing to launch a layer-two for Bitcoin that will reduce the latter’s transaction fees while massively boosting its throughput.
It’s basically aiming to become a big DeFi layer for Bitcoin, with the L2 introducing a range of dapps and DEXes that will attract significant trading volume.
Its protocol will operate using zero-knowledge proofs, while it will also make use of Ethereum and Solana virtual machines, for maximum compatibility.
As its native token, HYPER will be necessary to pay for transaction fees, while it will also be open to staking and governance.
It could therefore grow massively upon launch, with investors able to join its sale by going to the Bitcoin Hyper website and connecting a wallet.
HYPER currently costs $0.0119, but this will rise later today, and will continue to rise periodically until the sale ends.
