TRUMP Meme Coin Rallies 5% Amid Predictions of Bitcoin Influence
The Official Trump meme coin increased by 5% in the last hour, trading at $17.23, following a 165.68% rise over the past month. It remains 77.11% below its all-time high from approximately a month ago. Arthur Hayes, founder of BitMEX, predicts a bullish future for the cryptocurrency.
- Hayes stated that meme coins will impact the political landscape in the U.S., especially during the 2026 midterm elections.
- Meme coins combine entertainment and political messaging, providing a unique outreach method.
- He speculated that Donald Trump monitors TRUMP's price, suggesting it could indicate broader crypto market sentiment.
- TRUMP is down roughly 80% from its peak, while Bitcoin has not retested $110,000.
- If positive sentiment towards crypto grows, TRUMP may lead a rally for Bitcoin.
- Hayes also predicted that Chinese President Xi Jinping might launch a meme coin for political validation.
Price Analysis
- TRUMP reclaimed the 20-day Exponential Moving Average (EMA) at $16.91.
- Immediate support is at $16; stronger support at $14.50.
- Resistance levels are at $18.50 and a major psychological level at $21.
- Relative Strength Index (RSI) is at 62.73, indicating bullish momentum.
- MACD indicator remains bullish with increasing histogram intensity.
