The crypto price prediction today, May 8, is bullish amid widespread gains driven by President Donald Trump, who has teased an upcoming “big announcement.” Trump’s cryptic post drove Bitcoin and Ethereum close to $100,000 and $2,000, respectively. Meanwhile, meme coins were outperforming the broader market as PEPE, TRUMP, and BONK prices surged by more than 10%.
Crypto Prices Rally Amid Trump’s Major News
Data from CoinMarketCap shows that crypto prices are on a bullish trajectory today, with the total market cap posting a 3% intraday gain to reach $3.09 trillion. At press time, all the top ten cryptos were trading in the green.
The gains come after a recent post on Truth Social in which Trump noted that he would be making a major announcement on May 8. In a subsequent post, he revealed that this announcement would culminate in a big day for the US and the UK.
“This should be a very big and exciting day for the United States of America and the United Kingdom.”
This deal coincides with earlier reports that trade negotiations between the US and China will resume. US Treasury Secretary Scott Besset will lead trade talks with China’s Vice Premier He Lifeng on May 10.
The bullish news on major trade deals also comes on the back of the FOMC meeting in which the Fed left interest rates unchanged. Trump has reacted to Powell’s hawkish statement, terming him a “fool who doesn’t have a clue.”
These macro factors are fuelling crypto price volatility, with more than $368M positions being liquidated within 24 hours, as predictions suggest that the broader uptrend may continue.
Crypto Price Prediction as PEPE, TRUMP, BONK Lead Rally
As crypto prices rally, three top meme coins have stood out and have the potential to continue with the uptrend and clinch multi-week highs. These tokens include PEPE, TRUMP and BONK, which have gained by more than 10%.
PEPE Price Prediction as $0.00001 Rally Looms
PEPE price eyes an 18% rally to the upside after overcoming resistance at the neckline of a rounding bottom pattern. As the bullish momentum grows strong, as supported by the rising RSI to 72, this meme coin may soon reach the highly coveted $0.00001 price and get to its highest level since February. The ADX supports the bullish Pepe Coin price forecast as it appears to tip north after the recent downtrend, suggesting that bears are growing weak.
TRUMP Price Eyes $15 as Bears Weaken
TRUMP trades at $12 with an 11% gain in 24 hours as it leads the rally in crypto prices. It eyes a breakout rally to $15 as the rising MACD line confirms that the bearish momentum is weakening. However, a bullish momentum will be confirmed after this indicator crosses above the zero line. Meanwhile, the Bollinger bands confirm that TRUMP is breaking out, and with a sustained rally, it may reach the 78.6% Fibonacci level of $15.
BONK Price Teases Gains Amid Double-Bottom Breakout
BONK price also eyes a parabolic rally after overcoming resistance at the neckline of a double-bottom pattern. If this pattern plays out, the rally will extend to the target price of $0.000020 in the near term, which is likely if the broader market sentiment remains positive. The AO histogram bars have also flipped green to confirm a momentum shift from bearish to bullish.
Summary
As crypto prices rally today amid positive macro factors driven by Trump’s “big announcement,” three meme coins have stood out with impressive gains, as the technical outlook suggests that further gains lie ahead. The price prediction for these crypto coins suggests that further gains lie ahead as buyers looking for quick profits start accumulating.
Frequently Asked Questions (FAQs)
The crypto price prediction today, May 8, is bullish after President Trump announced a trade deal between the US and the UK.
A trade deal between the US and the UK will drive gains for crypto prices as it alleviates concerns about the impact of tariffs on the US economy.
PEPE, TRUMP, and BONK are gaining amid speculation that the US will reach a trade deal with China and the UK. The meme coins are also on an uptrend due to a bullish technical outlook.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
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/crypto-price-prediction-pepe-trump-bonk-lead-rally-ahead-of-trumps-big-announcement/
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