• Magic Eden is down 15% as costs broaden the downtrend.
• The Me token rose sharply after Trump’s sons saved Trump’s group away from the announcement of latest wallets.
• Magic Eden Worth was in a position to absorb to help round $0.78, a report low in April.

Magic Eden (ME) costs have fallen greater than 15% within the final 24 hours to increase losses from their sharp decline from their highs on June 3, 2025.

After a latest wallet-related information drama pulled out the Bears in earnest, it traded about $0.87 amid ongoing damaging aspect strain.

Specifically, this decline has led to the magical Eden token changing into widespread in the direction of its historical past low of $0.78, reached in early April.

CoinMarketCap’s information reveals a 58% DIP on buying and selling quantity, suggesting that ATL is about 21% off present value ranges.

Why is Magic Eden decreasing costs in the present day?

As talked about above, the ME token surged earlier this week, leaping sharply to succeed in round $0.8 to $1.15 amid dealer pleasure.

As you’ll be able to see within the chart under, the catalyst for this vertical motion was the announcement of the Trump model crypto pockets.

X’s Magic Eden social media put up shares “Massive Information” and hints on the partnership between Magic Eden and getTrumpmemes.com.

The information hinted at “the primary and solely crypto pockets for true Trump followers.”

Massive Information! official $Trambling The pockets is coming quickly! The primary and solely crypto pockets for true Trump followers.

Be a part of our free weight record and get the prospect to win one million greenback share $Trambling Reward! Go to https://t.co/pvcq6yxq5v now!

$Trambling The pockets is put in @magiceden pic.twitter.com/ka26rzjy6m

– Magic Eden 🪄 (@magiceden) June 3, 2025

The response throughout the crypto area was whether or not this was authorized, and many individuals meant what it meant to Trump and me.

Nevertheless, shortly after the Magic Eden workforce shared the information, Donald Trump Jr. posted a public disclaimer that the Trump group shouldn’t be a part of the Trump pockets.

The identical message got here from President Donald Trump’s different son, Eric Trump. Eric warned Magic Eden in X’s put up:

“We’re extraordinarily cautious to make use of our title on tasks that aren’t authorised and unknown to anybody inside our group.”

I token technical outlook

The market response to the collection of occasions was reversed from constructive to damaging for me, with the tokens soaking beneath $1.

This retracement has been happening for the previous 24 hours, bringing the Magic Eden Token to worth beneath $0.9 on June fifth.

The worth of Magic Eden may very well be overturned increased than present ranges, however technical images help the bearish transfer.

The RSI on the 4-hour chart is under 50, indicating downward motion, whereas the MACD emphasizes depth amidst the rise within the damaging histogram.

Additional draw back motion, reflecting the weaknesses of the broader market, sees ME tokens poised close to $0.87. If costs drop, they might fall right into a $0.78 help space.