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Invezz 2025-02-28 09:18:51

Official Trump (TRUMP) token weakens despite SEC clarifying its regulatory status

The US Securities & Exchange Commission revealed its stance on meme tokens’ regulatory status yesterday. The agency equated themed cryptos to collectibles, making them immune to federal securities laws. The regulator stated : Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles. The regulator stated that these tokens don’t offer rights to future returns, assets, or income – the key elements in determining an asset’s security status. The Kobeissi Letter @KobeissiLetter · Follow WOW.The SEC just said that meme coins are generally NOT considered securities under US federal law.They also said that meme coins have “limited or no use” and do not need to be registered with the SEC.This is a MASSIVE statement by the SEC. 12:29 AM · Feb 28, 2025 1.1K Reply Copy link Read 104 replies However, the SEC will still examine fraudulent dealings connected to meme assets. The agency’s latest decision, which comes as meme tokens face a backlash from the community, revealed a reformed approach by the regulator. The SEC has experienced massive administration changes since Gensler’s replacement . The current leadership has confirmed its pro-cryptocurrency stance. For instance, they have dropped multiple suits recently, including Uniswap, Coinbase, and Gemini. Meme market outlook: TRUMP leads downtrends Meme coins slumped further despite the regulator’s bullish stance, with Official Trump leading the downside. The meme market capitalization declined by 10% within the past 24 hours to $56.9 billion ( Coingecko data ). Official Trump displays substantial bearishness following the latest broad-based crash. TRUMP seemed to suffer the most as altcoins endure double digit losses in their daily and weekly timeframes. The altcoin, which the US president announced on January 18, has disappointed in the past trading sessions. TRUMP lost 32% within the past week, and prices wavered beneath the 50- and 200-day EMAs displaying massive seller dominance. The alt suffered swift declines after rejection around $24 on February 14. The alt lost its previous support at $14 as Donald Trump’s decision to progress with tariffs crashed PolitiFi tokens . Losing the foothold translated to devastating selling pressures, explaining TRUMP’s unresponsiveness after the recent SEC announcement. TRUMP’s current price action The meme trades at $11.28 after a more than 15% dip on the daily chart. Chart by Coinmarketcap TRUMP demonstrates bearish influence in all its timeframes, suggesting extended plunges in the near term. Technical indicators emphasize the bearish case. TRUMP trades beneath the vital 50- and 200-day Exponential Moving Averages – seller edge. Also, the Moving Average Convergence Divergence formed a visible bearish cross with the signal line. Moreover, TRUMP has 10 indicators out of 17 highlighting bearishness, with 1 bullish, and 6 neutral signals. The token could dip to $10 in the coming hours. With industry experts cautioning against politician-linked tokens , TRUMP’s future remains gloomy. Moreover, the market is shifting, making it hard for weak projects to survive in the upcoming selective altcoin season . The post Official Trump (TRUMP) token weakens despite SEC clarifying its regulatory status appeared first on Invezz

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