TRUMP Meme Coin Trading at $12 as Team Clarifies Dinner Participation Rules
The official Trump meme coin has clarified rumors regarding its upcoming dinner event. Key points include:
- Participants do not need to hold over $300,000 worth of TRUMP tokens to attend the dinner.
- No tokens will be unlocked or sold in relation to the event, alleviating fears of a large sell-off.
- The leaderboard's top 220 includes exchanges and wallets holding locked tokens, misleadingly implying eligibility cutoff.
- The top wallet holds over 1.17 million TRUMP tokens, valued at more than $14 million, while the 220th-ranked user holds just $420.
- Recent buyers received funds from Binance, suggesting many top holders may be located outside the US.
TRUMP Price Overview
- Current trading price is around $12, down by 1% in the last day but up over 60% week-on-week.
- Market cap increased by $1 billion following the dinner announcement, now at $2.42 billion.
- Since launch, TRUMP token generated $312 million in sales and $41 million in fees for Trump and associates.
- Technical indicators show an RSI near 52 on the hourly chart and suggest overbought conditions on the daily chart.
- Bollinger Bands indicate a volatility squeeze; resistance is around $13.50 with support near $11.20.
- Volume and open interest are decreasing, indicating potential consolidation ahead of new catalysts.