The official Trump meme coin made a strong recovery after bottoming at $32, with the TRUMP price rising 20% to over $41. This rise was driven by the developments of new TRUMP ETF applications filed with the US SEC on Tuesday. Interestingly, Donald Trump’s comments about meme coin activity caused strong volatility in the Solana meme coin.
TRUMP Price Target and Technical Analysis
Crypto analyst Ali Martinez noted that the TRUMP token has successfully broken the falling wedge formation and this technical indicator points to a potential increase in the TRUMP price with a target of $54.
“TRUMP token continues to advance in an uptrend.” –Ali Martinez
ETF Applications and Market Reaction
REX Financial and Osprey Funds have filed a possible TRUMP ETF application with the U.S. Securities and Exchange Commission (SEC) for the newly launched TRUMP meme coin. These applications, along with the TRUMP meme coin launched three days ago, have had a positive impact on the market.
Trump’s Comments and Volatility
Donald Trump said about the TRUMP meme coin launch at his press conference yesterday: “I don’t have much information other than I launched it. I heard it was successful. “I didn’t check.” he said. These statements caused a sudden 33% drop in value for the TRUMP coin.
“I don’t have much information other than I started it. I heard it was successful. “I didn’t check.” –Donald Trump
During this volatility, one investor purchased $5.09 million of TRUMP tokens right at the bottom, quickly recovering the investment by $2.4 million. This transaction attracted attention due to the possibility of using inside information.
After Trump takes office in the White House, Wall Street’s leading investors expect his cryptocurrency policies to create investment opportunities for major financial institutions.
These developments on the TRUMP meme coin point to notable movements in the market. Investors are closely following ETF applications and Trump’s statements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
