Donald Trump Memecoin Fuels Hype With Billions Minted in Day

Trump Memecoin Price Prediction: What next for Official Trump?

$TRUMP Gains Traction on Solana

On the Solana blockchain, a new memecoin name Official Trump coin ($TRUMP) has been introduced which made a traction in the last 3-4 days for crypto traders.  As of January 22, 2024, $TRUMP appears ready for a potential surge, supported by bullish price action forming on the hourly and 15 Minute chart.

Lookonchain Reports: LeBron's $TRUMP Trades

According to Lookonchain, LeBron sold 4.52M $TRUMP tokens (worth $185M) for 4.52M $USDC at an average price of $1, cashing out prematurely and missing out on a potential $180M profit. 

Two hours ago, he re-entered the market by spending 2.5M $USDC to buy $TRUMP again but quickly sold the tokens for 2.43M $USDC, incurring a $67K loss.

Circle Mints Billions of $USDC on Solana

According to Lookonchain, since the launch of $TRUMP, Circle has minted an impressive 2.5 billion $USDC on the Solana blockchain in just four days!

Technical Analysis: Falling Wedge Breakout

As per ALI Martinez, After forming a high near $80 the Memecoin is trading in a falling wedge pattern. From 20th January, Trump meme coin is trading inside the formation and on 21 th January a breakout occurs. As per, the depth of the chart, the price is now aiming at the target of $54. 

What’s Next for $TRUMP?

On the daily chart, the Trump coin seems bullish, as consolidation breakout seen near $40 resistance. Also, A trendline breakout seen from 19th January. Following the breakout, the token has shift to upward momentum from its downward trend. As per the price action, If the daily candle closes above $45 then the price could soar towards 42% to reach the next target near $64.

Source: Tradingview

As per Analysts views and Trump Memecoin coin chart indicate that the memecoin could hit $64 if a daily candle closes above $45 as the price pattern breach the falling wedge and consolidation zone in short term.