Official Trump Memecoin Bearish Trend Predicts Potential Drop to $1.31

The Official Trump memecoin has been experiencing a decline in value over the past few weeks, with prices falling 5% in the weekly trading session and an additional 12.8% since Sunday's daily close.

One of the drivers behind this bearish trend is the relatively weak sentiment around altcoins over the past two weeks, although some memecoins have posted positive returns during this time.

Another factor contributing to the losses was the wipeout of long liquidations, which led to market sell orders forcing prices even lower.