Official TRUMP Token Rises 1% as Trump Reduces Holdings in WLFI
The official TRUMP token increased by 1% on June 19, reaching $9.32 after a six-day decline. This recovery aligns with reports that DT Marks DEFI LLC, backed by Donald Trump, now owns approximately 40% of World Liberty Financial Inc.
TRUMP Price Reaction to Ownership Changes
- Trump’s reduced stake in crypto ventures appears to have positively influenced TRUMP markets.
- Traders speculate this reduction mitigates regulatory risks following stalled stablecoin legislation related to Trump's involvement with both the USD1 stablecoin and the TRUMP meme coin.
- The Senate's approval of the GENIUS act may also relate to Trump's decreased ownership in crypto.
Technical Analysis of TRUMP Token
Currently trading at $9.31, the TRUMP token is near a critical resistance level at $9.32, forming a double-top pattern. A daily close above this level could lead to a rally toward the $10.75 resistance seen previously.
- 24-hour trading volume on Binance has decreased to 1.5 million tokens, indicating reduced selling pressure.
- If support at $9.00 fails, a decline to the $8.10 pivot zone may occur.
Shift in Trading Focus
As interest in Trump-related tokens diminishes, traders are shifting towards Best Wallet ($BEST), which has raised over $13.4 million during its presale phase. Currently priced at $0.025205, it offers features aimed at improving user experience in the Web3 wallet market.