Trump Denies Running TRUMP Coin as Price Takes 5.6% Hit
U.S. President Donald Trump recently distanced himself from TRUMP Coin, stating he neither operated nor monitored the token. The comments came as the token's price fell by 5.61% over 24 hours to $2.26, according to CoinMarketCap data.
The price decline cannot be attributed solely to Trump's comments, as broader market conditions and elevated derivatives activity also affected the trading environment.
TRUMP Coin had experienced a volatile August recovery from levels near $1.36 before failing to hold its intraday advance above three Fibonacci resistance levels at $2.5257, $2.8042, and $3.1454.