TRUMP Coin Surges 16% as Whale Purchases $5.53 Million in Tokens
The meme coin Official Trump (#TRUMP) has seen a 16% price increase in the past 24 hours, trading at approximately $14.19. Trading volume surged by 150%, indicating renewed interest from investors.
- The broader meme coin market rose by 15%, reaching a total capitalization of around $65.69 billion.
- Other notable meme tokens like DOGE, SHIB, PEPE, and BONK also experienced double-digit gains.
- TRUMP's market cap increased by 42% over three days to $2.85 billion.
- A whale purchased 390,435 TRUMP tokens for $5.53 million at $14.16, contributing to this rally.
The RSI on the 4-hour TRUMP price chart is at 81.5, indicating overbought conditions, which may lead to a correction as traders take profits.
- Bollinger Bands indicate strong buying pressure, but prolonged trading outside the bands could herald a pullback.
- Support levels are around $12.20 (mid-band) and $10.80 (stronger floor).
- Key resistance is near $15.50.
Democrats are increasing scrutiny of Trump's involvement in cryptocurrency, particularly regarding the TRUMP token. Congressional actions led by figures like Rep. Maxine Waters and Sen. Richard Blumenthal aim to investigate his ventures, labeling certain promotional activities as "pay-for-play schemes." Financial records from related companies have been requested.