TRUMP Coin Plummets 5% Amid Trump Musk Feud

Generated by AI AgentCoin World
Wednesday, Jul 2, 2025 4:06 pm ET1min read
DOGE
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The public feud between Donald Trump and Elon Musk has taken a sharp turn, with Trump now threatening to “look into” Musk’s deportation. This dramatic escalation could rattle the very social sentiment supporting the TRUMP coin price outlook. Musk has long been a kingmaker in the meme coin scene, with past endorsements prompting the rise of the likes of

Dogecoin
(DOGE) and Pnut (PNUT).

With hopes of salvaging the relationship fading, investor confidence has dropped, triggering a 5% daily loss and casting doubt on TRUMP’s ability to regain momentum. As a hype-driven meme coin, TRUMP has relied heavily on high-profile influence—its last major spark being the late-May “Presidential Dinner” for top holders. Since then, it’s plunged more than 46%, as retail interest fizzles and no new endorsements have emerged.

While the slide on the daily has seen the post-breakout momentum of a 1-month falling wedge pattern stall, the TRUMP coin price still echoes a familiar historical setup. It closely mirrors the April breakout from an identical falling wedge pattern—one that also saw price action retrace to a previous lower low as a launchpad for its next upwards move. Momentum indicators flash a similar setup too. The MACD line faces a potential death cross below the signal line—a sign the breakout may not have the conviction for a lasting uptrend. However, the RSI lingers in near-oversold conditions at 35. This suggests that sellers are near exhaustion, clearing the path for buyers to step in and continue the upward move.

If this setup plays out like the April breakout, a 2x gain could be on the cards, targeting the early March peak at $17.50. However, weaker social backing this time—amid Trump’s fallout with Elon Musk—could

sap
sentiment and stall momentum. If sell pressure wins out, the pattern could fully break down, invalidating the bullish outlook. A reversal would rule out a new higher low since the mid-April market bottom and a longer-term uptrend, revisiting support around $7.25 in a 17% dip.