- TRUMP Coin jumped over 13% in 24 hours, rising from $10.85 to $12.27.
- Trump’s Truth Social post calling $TRUMP the “greatest cryptocurrency” sparked a price surge.
The U.S. President Donald Trump set social media abuzz after he posted on Truth Social, calling his meme coin, TRUMP, the “greatest cryptocurrency.” His enthusiastic endorsement sent the token soaring over 13% in a single day, jumping from $10.85 to an intraday high of $12.27. However, the rally was short-lived as $TRUMP soon dipped back to the $11 range.
Following this, many users on other platforms slammed Trump for promoting a crypto asset that benefits him directly. Trump’s post also sparked criticism online, with some users on X mocking the move, saying, “Pump and dump rhymes with Trump.” Despite the backlash, the coin remains one of the biggest gainers of the past 24 hours, with its trading volume skyrocketing 314% to $1.34 billion, making it the most traded meme coin of the day.
Additionally, the rally in the Trump Coin comes as Bitcoin (BTC) rebounded to $87K after dropping to $81K last week, helping the overall crypto market recover. Major altcoins like Ethereum (ETH), XRP, and Solana (SOL) also saw positive movement on the charts.
Interestingly, a whale investor who jumped in right after Trump’s post bought $5 million worth of $TRUMP but ended up selling at a $207,000 loss within an hour, according to Lookonchain. Previously, the same investor had made a massive $108 million profit trading the meme coin. Since its market peak at $75.35 in January, $TRUMP has crashed nearly 85%, wiping out $65 billion in market value. However, technical indicators suggest short-term bullish momentum.
TRUMP Coin Gains Momentum as Indicators Turn Bullish
In the TRUMP/USDT 4 hours chart, the price sits above the 21-day and 50-day EMAs. This upward movement signals strong momentum in the market. Additionally, the Supertrend indicator has turned green, suggesting a potential shift into a more bullish phase.
A closer look at the indicators reveals growing buying pressure. The CMF sits at 0.09, indicating a slight increase in demand for TRUMP Coin. Meanwhile, the RSI is at 61.41, which means the asset is in bullish territory but hasn’t yet hit the overbought zone. IAlso, the MACD line crosses above the signal line, further confirming the ongoing positive trend.
However, a breakout above $14.37 is necessary to solidify a strong rally. If TRUMP Coin manages to stay above $11.50 and surpass this key resistance, it could climb toward $17.48, with $24.67 and $30 as potential targets. On the flip side, if momentum weakens and the price dips below $11.36, it might slide down to $9.51 or even $8.
In other news, First Lady Melania Trump who also entered the meme coin space with the launch of $MELANIA, currently priced at $0.6933. With both President Trump and the First Lady involved in the crypto scene, these political-themed tokens are drawing increasing attention.
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