Key Points:
- TRUMP trades in a tight range near $8.63 as breakout potential builds with Tron expansion.
- BONK surpasses TRUMP in meme coin rankings, signaling shifting trader interest and capital rotation.
- $782M worth of TRUMP tokens set to unlock as traders await new U.S. crypto policy update.
TrumpMeme (TRUMP), a meme coin originally issued on Solana, will now launch on the Tron network. The token launched on January 18 with a total supply of 1 billion tokens. According to the project team, the move is part of a broader plan to increase access and user participation across multiple chains.
Notably, TRUMP currently holds a market capitalization of $1.718 billion, with a fully diluted valuation of $8.59 billion. The token price has risen to $8.63, marking a 1.07% increase over the past 24 hours. However, it remains down 2.98% over the last seven days.
Price Trends Show Tight Range and Potential Breakout
The TRUMP/USDT chart indicates that the token is trading between $8.50 and $8.70, following a steady decline from its all-time high above $73. Resistance is seen at $12.77, while a key support level has formed just above $8.50. Traders are watching this narrow range closely for a potential breakout.
In addition, technical indicators show weak momentum but possible early signs of recovery. The Relative Strength Index (RSI) stands at 37.82, keeping the asset out of oversold territory. The MACD has crossed slightly above the signal line, though the flat trajectory suggests limited buying pressure for now.
BONK Flips TRUMP in Market Cap Rankings
TRUMP has been overtaken by $BONK in meme coin rankings, with BONK now standing as the fourth-largest meme token by market capitalization. The shift in rankings reflects recent changes in trading volumes and investor focus.
Meanwhile, TRON’s native token TRX is trading at $0.287 with a 24-hour gain of 1.06%. It has also posted a 3.57% increase over the past week, as network activity picks up alongside new listings like TRUMP.
Policy Update and Token Unlock Set the Stage
As CoinCu reported, a working group within the Trump administration plans to release a digital asset policy report by July 22. The document will include collaboration between multiple agencies and is expected to address banking access and crypto regulations.
Separately, Matrixport reported that $782 million worth of TRUMP tokens are scheduled to unlock. Lower trading volumes in South Korea, which have fallen to $775 million daily, suggest reduced retail activity since the token’s launch in January.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/347301-trump-meme-coin-jumps-after-tron-launch-news/