In a recent interview, President Donald Trump denied any financial gain from his memecoin, Official Trump (TRUMP). He asserted, “I’m not profiting from anything,” despite ongoing scrutiny regarding his involvement. This comes as the cryptocurrency experiences notable market fluctuations.
Trump’s Conflicting Statements
On a TV interview with NBC News, Trump was asked about his profits from the memecoin he introduced on January 17, one day before his re-inauguration. When challenged by the controversy, he responded, “I haven’t even looked.” At the end, he did confess that indirectly, he would gain from the revenues of the stock market because of his publicly declared stance.
Despite the token’s high of $73.43 to start, it has dropped a long way since and is now at $11.35. That is an 85% drop from its high. Trump was still in the dark, however, about all of that and went on throughout the interview questioning what the token costs.
Market Analysis and Future Outlook
New figures show price movements in the TRUMP token trading. The token finished trading yesterday at $11.26, up 2.64% from the low of $10.88, as per Coingecko. The price, however, remains below its 20-day simple moving average of $11.34, which shows resistance.
Technical indicators are split. MACD shows slowing momentum with the latest reading at -0.16 on the histogram. This indicates easing bear pressure, or perhaps a signal of an imminent price breakout sometime in the not-too-distant future.
Trump’s remarks on his memecoin gains are inflammatory where cryptocurrency and politics cross. Though he asserts that he himself did not make money personally off the scheme, the marketplace forces behind the token continue to play out. Political activism and crypto speculation build momentum as fans await follow-through eagerly.
