Trump Endorsement Boosts TRUMP Token 10% in 24 Hours

Donald Trump launched the Official Trump (TRUMP) token at the beginning of the year, ahead of his inauguration event. Within hours, the token reached its all-time high of $75.35 before collapsing nearly 90%. This led to a loss of investor confidence, but a rally in the TRUMP memecoin price formed this Sunday, gaining 10% in the last 24 hours. The question remains: how did this happen, and will it continue?

On March 23, Donald Trump posted on Truth Social to support his TRUMP memecoin, which resulted in an immediate price surge. The U.S. President endorsed his token with a simple post, calling it cool and the greatest among all. This was an awaited moment as Trump had not talked about his crypto in weeks; it was bearing a significant downtrend and hit an all-time low of $6.24. However, a bullish peak formed after the post, resulting in the price jumping from $10.72 to $12.24 within a few hours. Although the token has moved minorly down from the peak, it is currently trading at $11.92 with a market capitalization of $2.38B.

As investors were concerned about the Official Trump coin price rally, a few analysts anticipated further uptrend. One such analyst pointed at the Donald Trump-influenced rally and claimed that the token is forming a base and is the only meme coin investors need to invest in. The analyst further added that if the market’s bullish sentiments remain and the token breaks the $12 resistance, the price could witness 10x growth over the upcoming weeks. However, the drop from the peak reveals that the market is no longer excited about the Trump-themed token. More importantly, the seller may bring volatility if they attempt to take all the profits in.

Despite the bullish performance, the TRUMP memecoin price is 75% down from the prime. This reveals that the token would require far more bullish factors for better performance, which seems missing as it does not carry any significant utility. The global crypto market sentiments are still bearish, but the more significant concern is the president-affiliated companies holding a major stake in the crypto. Reports reveal that out of the 1 billion tokens, CIC Digital LLC (a Trump Organization affiliate) and Fight Fight Fight LLC hold 800 million tokens (80%). Those allocations have affected the Official Trump coin price in the past and may continue to do so. Additionally, the upcoming 40 million TRUMP token unlocks may affect its performance further. The unlocking will start on April 18 and may continue to enter the market until the end of 2027, bringing additional volatility due to building selling pressure. Some even claim that Donald Trump’s recent post was to grab some exit liquidity before unlocks.

Overall, the volatility may take over soon per Official TRUMP price prediction, and the memecoin may crash again. The recent surge in the TRUMP memecoin price can be attributed to Donald Trump's endorsement on social media. However, the sustainability of this rally is questionable due to several factors. The token's significant drop from its all-time high, the lack of utility, and the bearish global crypto market sentiments are all concerns. Additionally, the large stake held by president-affiliated companies and the upcoming token unlocks could bring further volatility. While some analysts predict a potential 10x growth if the token breaks the $12 resistance, others are skeptical due to the aforementioned issues. Only time will tell if the TRUMP memecoin can maintain its recent gains or if it will face another crash.