The Trump meme coin ($TRUMP) has experienced significant volatility, posting a double-digit gain over the past 24 hours following the release of 40 million tokens. Currently trading around $8.15, $TRUMP spiked to a high of $8.71 before pulling back slightly, sparking excitement among traders and caution among analysts.
According to data from CoinMarketCap, the token is up over 10.6% daily, with its market cap surpassing $1.63 billion and daily trading volume surging past $475 million, a rise of more than 24%. This renewed attention is tied to a token unlock that released 40 million additional coins into circulation, often triggering volatility and, in this case, a sharp rally.
Token Unlock Triggers a $TRUMP Rally
Crypto influencer Moon Jeff captured the momentum in real time, noting on X that $TRUMP was “pumping hard” following the unlock. In the one-hour chart he shared, the token spiked from around $7.39 to $8.71 — a massive move within a short time window, reflecting a combination of low liquidity and increased interest driven by social media hype.
While token unlocks typically carry a bearish bias due to increased supply, the reaction here was bullish. This is likely because investors anticipated the event and “bought the dip,” expecting short-term traders to rush in, which they did.
Another notable voice, The Candle Wick, highlighted that $TRUMP is “finally breaking out of the downtrend.” His daily chart showed the coin piercing through a descending resistance line that had been in place since February. If confirmed, this breakout could signal a trend reversal or at least offer bullish relief after a prolonged slump.
Technical patterns like this are often closely watched by traders looking for early signs of a reversal. The downtrend line that $TRUMP is now challenging has been a ceiling for weeks. Breaking above and holding this level opens the door to further upside targets, particularly the $9.50 zone and beyond.
What’s Next for the TRUMP Meme Coin?
Despite the excitement, technical indicators on the daily timeframe tell a more cautious story. Data from TradingView shows that $TRUMP currently holds a “sell” signal, with 8 indicators flashing a sell, 10 indicators showing neutral, and only 4 suggesting a buy.
The Relative Strength Index (RSI) is at 40.52, still in neutral territory, suggesting the TRUMP meme coin isn’t overbought and also lacks strong buying momentum. The Moving Averages section adds more scepticism: 7 are flashing “Sell,” including the 20-day and 30-day SMAs, while only 3 give a buy signal.
Momentum indicators, such as the MACD and Awesome Oscillator, remain neutral to slightly bearish. However, some short-term moving averages, such as the Exponential Moving Average (10), have turned bullish, hinting at a possible early upside.
This mix of bullish price action and bearish or neutral indicators creates a classic divergence. It suggests that while sentiment is heating up, the broader structure hasn’t yet flipped fully bullish.
Therefore, the TRUMP meme coin needs to hold above $8.00 and reclaim $8.50 with strength. A close above this zone could lead to a push toward $9.50, and if the broader market supports it, possibly even $10.
However, if momentum fades and the price dips below $7.80, the move could be seen as a failed breakout, triggering a retest of the $7.50 or even $7.00 support zones.
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