Trump Coin and Tesla Stocks Plummet Amid the Feud Between Elon Musk and Donald Trump

The verbal confrontation between Elon Musk and Donald Trump regarding the legislation has turned ugly over time. And the consequences are quite clear as Tesla's stock price fell 14.26% on NASDAQ. It is worth noting that the TSLA stock price incident wiped out $150 billion from the company's market capitalization. Next, the TRUMP coin also suffered heavy losses, falling 10.40% overnight, becoming the biggest loser of the day. Amidst the excitement, if you are wondering where the Official Trump coin will go next, then this $TRUMP price analysis is a must-read for you. Analysis of the official Trump coin price: The TRUMP token at press time was reportedly trading at $9.72, with an intraday price drop of 10.40%. The struggle caused its market capitalization to drop by 10.42% to $1.94 billion. However, the token has seen an increase in trading volume, this time by 206.17% for a whopping $866.3 million

The memecoin has traded in a range of $9.49 to $10.92 in the last 24 hours. Price below the 9-period SMA at $10.33 confirms short-term weakness. The immediate support is located at $9.38, breaking this level could drag the price down to $8.58. A rebound to the $10.33 and $11.14 levels could occur if the bulls regain their bullish momentum. Traders should note that the trend remains bearish unless price breaks above the moving average.