TRUMP meme coin struggles persist despite GD Culture Group's massive $300M Bitcoin and How to cash out Monero?TRUMP investment.
Technical indicators suggest further downside risks as sell-side pressure mounts.
Market eyes potential volatility ahead of exclusive Trump dinner event for top holders.
The Official Trump (TRUMP) meme coin continues its downward trajectory, currently trading at $13.46 as trader confidence wanes. This decline comes despite surprising market moves from GD Culture Group, a Nasdaq-listed firm with Chinese connections, which recently allocated $300 million towards Bitcoin and TRUMP holdings.
GD Culture Group's Bold Crypto Move
This technology company, operating through Chinese subsidiaries and heavily reliant on TikTok's platform, made waves with its unconventional investment strategy. Interestingly, the firm reportedly generated zero revenue from its TikTok e-commerce operations last year while maintaining just eight employees.
According to SEC filings, the $300 million investment originated from a stock sale to an undisclosed British Virgin Islands entity. The company stated its intention to "invest in Bitcoin and OFFICIAL TRUMP and for general corporate purposes," marking one of the more unusual corporate crypto allocations in recent memory.
TRUMP's Technical Outlook
From a technical perspective, the TRUMP token shows bearish signals after failing to maintain momentum above $15.35. The Relative Strength Index (RSI) indicates growing negative divergence, suggesting potential further declines below current levels.
Key support zones to watch include the 50-day EMA at $12.20 and a critical demand area around $10.00. The MACD indicator currently shows neutral momentum, though traders should monitor for potential bearish crossovers that could signal accelerated downward movement.
Upcoming Market Catalysts
Market participants anticipate potential volatility surrounding the exclusive May 22 dinner event for top TRUMP holders with former President Trump. Similar events have previously sparked significant price movements, with the April announcement triggering notable market activity.
As background checks commence for the select 220 invitees, the market watches closely for any developments that could influence TRUMP's valuation. Whether this event will reverse current bearish trends or amplify them remains a key question for traders navigating this unconventional asset class.