The Trump Coin price formed a God candle on Friday as crypto investors bought the dip. It surged to its highest point this month, a price action that mirrored that of other Solana meme coins like Popcat and Dogwifhat. So, can the TRUMP price surge to its all-time high as some crypto pundits predict?
Trump Coin Price Surges as Pundits Eye ATH
Some crypto pundits believe that the Trump coin price may have bottomed, a move that may push it to a record high. A surge from the current $20 to $100 would signal a near 400% surge.
In an X post, Rafaela Rigo, a popular crypto analyst with over $151k followers, noted that the coin holding above $19.40 would point to further gains to a record high.
Another crypto pundit pointed to more smart money inflows into the coin as a bullish catalyst. He expects Donald Trump’s World Liberty Financial to start buying the coin. His Trump Media has also said that it will start a crypto strategic reserve, which could involve acquiring TRUMP tokens.
Meanwhile, Rose Premium Signals delivered a Trump Coin price forecast with a $51 target, citing the falling wedge pattern. She said:
“TRUMP has successfully bounced from the accumulation zone after forming a falling wedge pattern. This breakout suggests strong bullish momentum, indicating a potential move towards key resistance levels.”
On-chain data shows that investors are buying the Trump meme coin. Two traders bought tokens worth over $10 million in the last 24 hours. 2 of them opened orders and two others bought tokens worth over $1 million.
Trump Coin Price Analysis
The hourly chart shows that the Trump meme coin price has rebounded recently. It retested the crucial resistance at $20.6 on Friday. This was a notable level since it was the upper side of the cup and handle pattern, a popular continuation sign. It was also along the 38.2% Fibonacci Retracement level.
The depth of this cup is about 32%. Therefore, a clear break above that price will see it jump to $27. This notable price coincides with the 78.6% retracement point at $27. Such a rebound will happen if Solana meme coins continue rebounding and if Bitcoin rises above $100,000.
A drop below the support at $17.85, the highest swing on February 9 will invalidate the bullish Official Trump price prediction.
Frequently Asked Questions (FAQs)
The Trump coin is soaring as investors buy the dip and as whale accumulation intensifies. It has also jumped as Solana meme coins wake up.
Yes, the Trump meme coin price jump to a record high if it regains momentum and if the crypto rally gains steam.
The most reasonable short-term target for the Trump coin price is $27, along the 78.6% Fibonacci Retracement point.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/trump-coin-price-pumps-as-pundits-target-a-400-surge/
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