TRUMP Meme Coin Targets $54 Breakout After Inauguration – Hype or Reality?
The TRUMP meme coin, launched during President Donald Trump’s inauguration festivities, has captured traders’ attention with its volatile price action.
Crypto analyst Ali Martinez has identified a falling wedge pattern on the token’s lower timeframes, often a precursor to bullish reversals.
Martinez predicts that after the current consolidation phase near the wedge’s apex, the TRUMP coin could rebound toward $54, reflecting renewed buying momentum.
Key Metrics:
24-Hour High: $60
Current Price: $35.87 (27.33% decline)
Trading Volume: $31.82 billion
Market Cap: $8.05 billion
Despite recent declines, the coin’s high trading volume and technical setup suggest potential for upward movement.
Market Volatility and Investor Reactions
Since its debut, the TRUMP coin has seen dramatic price swings, with an initial surge to $60 before dropping to $40.25 by day’s end. Market participants remain divided over the token’s long-term potential.
Critics have raised concerns about the token’s ownership structure, with reports indicating that 80% of the supply is controlled by affiliated entities. This concentration has fueled skepticism about possible market manipulation and the token’s overall stability.
Adding to the intrigue, the TRUMP coin launched alongside $MELANIA, another meme coin. Over the inauguration weekend, both coins collectively reached a market cap of $16 billion, with $300 million raised through token sales by World Liberty Financial, reportedly endorsed by the Trump family.
Concerns Over Regulatory and Ethical Issues
The launch of the TRUMP coin has sparked debate in both the crypto and regulatory communities. Critics, including investor Mark Cuban, have highlighted potential conflicts of interest, as the former president serves as both issuer and investor.
Cuban noted that the lack of regulatory safeguards and high ownership concentration could undermine investor confidence and tarnish the cryptocurrency industry’s reputation.
“Such projects risk harming the broader crypto market’s credibility,” Cuban said.
Despite the controversies, the TRUMP coin has maintained strong trading activity. However, analysts caution that meme coins are inherently speculative, making them risky for long-term investments.
Outlook
While the falling wedge pattern offers hope for a $54 breakout, investors must weigh the token’s speculative nature and regulatory challenges. As the TRUMP coin navigates market volatility, its future will depend on sustained trading interest and broader sentiment in the meme coin space.
