With the bull run in the crypto market gaining momentum, the meme coins are breaking crucial barriers. The Official Trump Token, the officially backed meme coin of the US President, is ranking the charts with nearly 50% intraday gains.
As the sudden revival of the TRUMP token crosses the $10 mark, a key announcement from Donald Trump is found to be the underlying factor. Will this bounce back in Donald Trump’s cryptocurrency lead to a new ATH? Let’s find out.
TRUMP Price Analysis
In the daily chart, the TRUMP token price trend showcases a sudden bullish turnaround. This marks a key demand level at $7.44, leading to a double bottom reversal.
The out-of-the-blue recovery run in the TRUMP token, with a new announcement from the US president, leads to the $10 breakout. Breaking past the 23.60% Fibonacci level at $11.47, the meme coin ends the prevailing downfall.
The breakout marks a potential beginning to a new recovery run in the meme coin. With a 24-hour high at $16.01, the TRUMP-based meme coin is now trading at $13.26.
This creates a bullish engulfing candle and records the highest trading price since March 3. Furthermore, it prolongs the uptrend in the MACD and signal lines.
Based on the Fibonacci levels, the uptrend in the Trump token struggles to hold the trading price above the 38.20% level at $14.98. However, as the market recovers and the potential altseason begins, the US president’s meme coin will likely result in a new all-time high.
The Fibonacci levels paint key resistances at 50% and 78.60% levels at $18.60 and $31.40, respectively. For new all-time high price targets, the 1.272 Fibonacci level at $76 is a potential level.
News That Revived OFFICIAL TRUMP Token
Today, the US President Donald Trump announced an exclusive deal for top TRUMP token holders. Trump offers a gala dinner and White House tour to the top 220 and 25 holders of his meme coin, TRUMP.
Following the announcement, the Official TRUMP coin pumped by 50%, mainly due to the increased greed for a personal dinner and VIP tour. Some critics view the promotion as a tactic to capitalize on the enthusiasm of retail investors.
However, the market sentiment and price movement reflect the hope of strong Trump supporters.
