The crypto world has made headlines once again. Recently, $TRUMP, Donald Trump’s official meme coin, saw a rise of more than 70% in market value, after a major announcement that listed beyond doubt the excitement for traders. And that was that there would be an exclusive private gala dinner with the U.S. President, but only for the top 220 $TRUMP holders.
With excitement growing, influencers and traders are now in a mad scramble to get seats at this dinner table. The pertinent question, however, is whether the rocket of the meme coin price is poised to keep going? Or is this just a hype? Let's talk about the data, community sentiment, and price action.
On-chain data from Lookonchain, powered by Solscan, shows that just one hour after creating a new wallet, a staggering $1.94 million was withdrawn as 150,100 tokens from Binance. It was a swift transaction that analysts view as more of a ploy for a dinner seat, demonstrating the peculiar and somewhat surreal tenor of meme coin culture.
In another hair-raising move, a crypto progressive exchanged $300,000 worth of FARTCOIN into the memecoin to land a place as one of the top 220 holders. Yes, FARTCOIN and the memecoin tokens are now your ticket to a private dinner with a U.S. President. Only in crypto.
Justin Sun, founder of Tron and a known crypto mogul, now joins in the fray. As per Lookonchain, Sun now owns 1,176,803 tokens worth about $14.32 million, making him the leader in the game. His entry legitimizes the hype around the token, but it does come with a huge dose of liquidity for the project.
A further bullish sentiment has taken center stage as the developers of TrumpCoin have delayed the unlocking of a whopping 40 million tokens for 90 days. This move now pushes the cap on circulating supply to 200 million for the time being, which helps dampen immediate sell-off pressure with more confidence for the investors.
The coin experienced another price rally just after its first breakout, followed by a brief cooling-off period, during which some technical analysts noted a consolidation pattern that is often bullish in continuation. Currently, it is trading when roused again near the highs established just a little time ago.
A breakout from the consolidation zone by the memecoin implies a possibility for another leg upward in the short term toward a new all-time high.
$TRUMP Price Prediction: Short-Term and Long-Term Outlook
Short-Term Prediction (Next 1-2 Weeks):
If the momentum remains constant and strong volume traders continue, it could target $0.18-$0.22 value levels if more whales come up on the leaderboard before May 22 dinner.
Medium to Long-Term Outlook:
If the project carries the public's attention well after the dinner event through other announcements or integration, it could stabilize at prices over $0.15, with speculative spikes toward $0.30 in a bull cycle surge.
But given that meme tokens and price action around events are likely to remain volatile, any post-event dump will quickly push prices back towards old support at about $0.08-$0.10.
Source: TradingView
Also read: Can the Bull Run Push SUI Beyond $5 and Towards $11.50?Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.