Since Eric Trump suggested to "buy more ETH," the price of Ethereum has fallen nearly 50% from its high

ChainCatcher news, according to Cointelegraph, after Eric Trump, the son of U.S. President Trump, advised fans in February this year that it was the "best time to increase ETH holdings," the price of ETH plummeted from about $3400 to $1820, a drop of 46.5%. Its market share shrank from 10.28% to 8.39%, hitting a new low since 2020. The associated project WLFI, however, increased its holdings against the trend, with ETH holdings rising 300% to $210 million over three months.

Analysts pointed out that this period coincided with Bybit suffering a $1.5 billion hack and Trump imposing tariffs on automobiles, creating a strong contrast between market sentiment and celebrity effects. Technical indicators show that if ETH loses the key support at $1800, it may drop to a low of $1490.