$TRUMP is now in a typical low-volume consolidation phase. On September 23, the price touched $2.24. The following day, trading volume surged to $383M, but the price failed to hold and fell straight back below $2. Since then, $2.10 has been a wall the bulls haven’t been able to break through. On October 8, the price fell below $1.90 and touched a low of $1.82. Over the past two days, it has climbed back to around $1.90, and today it has moved just 2.29% in 24 hours.
The key change is in trading volume. In mid-to-late September, $200M in a single day was nothing unusual, and even in early October, volume could still intermittently top $300M. Now, 24-hour volume is down to just $94M. At this level, there are two possible interpretations: selling pressure is easing, or major investors can no longer be bothered to trade at this price. I lean toward the latter. Meme assets don’t need such a long sideways stretch to be repriced; they need a new narrative or an influx of new capital to drive a shift in consensus.
At -97.42% from its ATH, this figure no longer offers any guidance for trading; it only reminds you how extreme the distribution of holdings is. The $1.80–2.10 range is where $TRUMP is actually trading right now.
The risks are clear: another high-volume bearish candle breaking below $1.82 would break the range. Conversely, the consolidation phase would only be over if the price climbed back above $2.10 on rising volume. For now, the recovery on low volume doesn’t indicate a direction on its own. The price has returned to the middle of the range, but the market still hasn’t provided a reason for $TRUMP to start rising again.
The key change is in trading volume. In mid-to-late September, $200M in a single day was nothing unusual, and even in early October, volume could still intermittently top $300M. Now, 24-hour volume is down to just $94M. At this level, there are two possible interpretations: selling pressure is easing, or major investors can no longer be bothered to trade at this price. I lean toward the latter. Meme assets don’t need such a long sideways stretch to be repriced; they need a new narrative or an influx of new capital to drive a shift in consensus.
At -97.42% from its ATH, this figure no longer offers any guidance for trading; it only reminds you how extreme the distribution of holdings is. The $1.80–2.10 range is where $TRUMP is actually trading right now.
The risks are clear: another high-volume bearish candle breaking below $1.82 would break the range. Conversely, the consolidation phase would only be over if the price climbed back above $2.10 on rising volume. For now, the recovery on low volume doesn’t indicate a direction on its own. The price has returned to the middle of the range, but the market still hasn’t provided a reason for $TRUMP to start rising again.