Ethereum’s native token, Ether (ETH), has witnessed a staggering drop of almost 50% in value just two months after Eric Trump, the son of former President Donald Trump, declared it a great investment opportunity to his 5.7 million followers.

Following Trump’s bullish endorsement, on March 31, the price of Ether dropped to as low as $1,820, demonstrating a decline of approximately 40% from the time of the tweet. This revelation highlights the unpredicted volatility in the cryptocurrency market, especially for tokens under sudden media scrutiny.

As investors navigate these turbulent waters, the future of Ether remains uncertain. Many are left questioning whether this decline marks a bottom or if further losses lie ahead. Technical analysts continue to study support and resistance levels while retail investors watch the trends closely, realizing the wild swings in the market can significantly impact their assets. The social media influence in the crypto space is both powerful and unsteady, leaving investors to reconsider their strategies.

For now, investors will be watching to see if ETH can regain stability or if the downward trend continues. Keep an eye on crypto market developments, as the narrative surrounding digital assets evolves with every passing day.

Stay informed as we provide updates on the market and expert opinions.

Source: X/Eric Trump, numerical data is subject to change.