Freight Technologies to Buy $20M TRUMP Tokens Amid Stock Dip

Freight Technologies’ stock fell over 20% following the $20M TRUMP token investment announcement. The TRUMP meme coin price declined 5.86%, and the market cap decreased to $2.48 billion in 24 hours . Freight Technologies Inc. has announced plans for a $20 million stock offering to acquire TRUMP meme coins. The company’s investment represents an early occurrence of TRUMP integration in public business treasury operations. The approach mirrors the Bitcoin incorporation methods that MicroStrategy has adopted by integrating digital tokens into financial operations. Tariffs Drive Company Decision According to Freight Technologies CEO Javier Selgas, the move centers around impending U.S.-Mexico trade tariffs. These taxes threaten cross-border commerce operations between the two countries. According to the CEO, the financial investment supports fair trade and free commercial exchanges, which are key to Freight Technologies’ business objectives. The United States considers Mexico as its principal trading partner, which makes this decision crucial for Freight Technologies. The company briefly mentioned interests in artificial intelligence and Web3 technology as motivating factors for purchasing digital assets. However, tariff-related business challenges dominate Freight Technologies’ rationale for investing in TRUMP tokens rather than cryptocurrency itself. Stock Market Reaction Initial reports of Freight Technologies’ TRUMP token plans appeared on April 30, but widespread public attention began on May 1. Following extensive coverage across cryptocurrency news platforms, Freight Technologies experienced a notable drop in its stock value. The company’s share price fell sharply, declining over 20% shortly after news circulated in public forums and investment circles. Data from Trading View indicates that Freight Technologies Inc. (NASDAQ) trades at $0.9848, marking a daily loss of 20.58%. The MACD indicator shows mixed signals, with the MACD line at 0.0307, above the signal line at -0.0255. This indicates some bullish momentum despite the price drop, yet the narrow gap suggests weakening bullish strength. The RSI (Relative Strength Index) currently reads 47.66, close to the neutral 50 level. Since RSI is below 50, selling pressure outweighs buying momentum. Furthermore, RSI just reversed abruptly after reaching the midpoint, lending support to bearish sentiments. Should RSI move lower below 45, it could strengthen selling pressure, pushing the price down towards recent support levels of around $0.91. Conversely, stabilization above 50 would reflect improved buyer activity, possibly encouraging recovery toward the day’s high of $1.21. TRUMP Token Market Performance Revealed Tracking the TRUMP token performance at the time of press, CoinMarketCap data indicates that the OFFICIAL TRUMP token currently trades at $12.43, showing a 5.86% decline in price over 24 hours. Its market capitalization stands at $2.48 billion, down by 5.79% compared to the previous day. Trading volume has dropped significantly, decreasing by 18.81% to a total of $769.47 million during the same period. The token’s fully diluted valuation (FDV) is $12.41 billion, reflecting the maximum supply of 999.99 million TRUMP tokens. The circulating supply maintains an established level of 199.99 million TRUMP. During the observed trading period, the token reached its highest value of $13.16 but experienced a continuous decrease until reaching its current value. The current market value represents an all-time low for today’s trading sessions. Highlighted Crypto News Today: US Treasury Moves to Ban Huione Group Over Crypto Laundering Ties Source: https://thenewscrypto.com/freight-technologies-to-buy-20m-trump-tokens-amid-stock-dip/