Key Takeaways
- TRUMP coin makes history, hitting a market cap of over $15B in a few hours of creation as crypto analysts’ price rallies.
- If bullish price action is sustained as the price breaks out of the falling wedge, the TRUMP coin could rally to a region of $70.
- The crypto market reacts to TRUMP coin trading around $35 as bullish price action on lower timeframe mounts.
The launch of TRUMP coin sent shockwaves to the cryptocurrency market as the price of TRUMP coin rallied by over 10,000% to a high of $77, hitting over $15B market capitalization for a new crypto memecoin just launched in less than 2 days of trading on the Solana network where it was first listed generating much traffic for Solana with the price of Solana also hitting new highs.
TRUMP coin has created a new record for memecoin trading, currently around 25th position on the coinmarketcap app according to market ranking, flipping the likes of DOGE, PEPE, and SHIB for memecoin volume in a single trading day.
The price rally of TRUMP generated over $620 million in liquidity for the Solana network, highlighting the demand in the price for TRUM as crypto analysts and traders speculated that the price could break $100 for a memecoin with such volume in the crypto space.
While the price of the TRUMP coin failed to hit a high of $100, it was able to trade above $77, which was over 10,000% of its listing price on the Solana network. Following Melania Trump’s listing of the MELANIA coin on Solana network, the TRUMP coin suffered price sell-offs to a region of $35 before rallying back to $60.
Crypto Market Reaction To TRUMP Coin
Source – TRUMP Reaction By Barkmeta on X
Barkmeta, a crypto trader, took to his X account to highlight his TRUMP price prediction as he speculated the price will rally to a high of $100 based on his price analysis. While this could become true, gaining many reactions from his post, trading memecoins exposes traders to extreme price volatility and requires caution while trading these assets.
Source – Satoshi Flipper Speculation On X
SatoshiFlipper has also shared the same sentiment regarding the TRUMP coin. He believes a breakout from its bullish channel could send its price to the moon, close to $100.
Other crypto analysts and traders have remained resolute about not selling the TRUMP coin at this current price, as the market remains hopeful that the price will rally to more upside in the coming weeks or months.
TRUMP Coin Price Prediction For Today, Tomorrow, And Next Week
Source – 15M TRUMP Price Chart From TradingView
On the lower timeframe, TRUMP coin looks bullish after breaking out of its bullish descending triangle. The price would be looking to rally to the upside of $70. TRUMP coin bulls need to step in to rescue the price of TRUMP coin from dropping lower, as traders would lose interest in buying or holding onto this promising crypto asset.
If the price of the TRUMP coin breaks below $25, we could see it go lower towards a low of $15 to $10, where it could build better support before trending to the upside.
