The official Trump (TRUMP) is continuously being paid attention to due to its connection to US President Donald Trump. For the same reasons, the token peaked right after launch, reaching an ATH at $75.35. However, the hype faded soon, resulting in the TRUMP memecoin price crash and further consolidation. Interestingly, the last few days have shown a different side. With this TRUMP coins’ significant recovery, the question is, can it reach $50 by the end of February? Let’s discuss.
TRUMP Memecoin Price Rally Begins
Donald Trump’s token’s journey in the crypto market is nowhere different from a rollercoaster ride. After its launch on January 17, the TRUMP memecoin price quickly reached a high of $72 before crashing to a low under $15.
Even at present, the TRUMP coin stands 74% away from its all-time high per CoinMarketCap. However, it has recovered 30% in the last 48 hours, trading at $19.80 with a market capitalization of $3.9B. More importantly, it peaked at $24, two weeks high, raising investors’ excitement about its potential rally to $50.
Interestingly, this happened as investors went to buy the dip, catering to increasing trading volume. In the last 48 hours, TV has surged from less than $1 billion to $6.69 billion, marking a new 600% surge. However, the $50 journey is still far and requires constant bullish momentum.
Can TRUMP Memecoin Price Hit $50 By February End?
The 30% surge in the last 2 days is a testament to the investors returning interest to this trending meme coin. As a result, this creates the possibility of further surge amid global market recovery. More importantly, from a technical point of view, the TRUMP memecoin price has recently broken out of a key downtrend and is battling with the resistance level.
A successful breakout from the key resistance of $23.53 could open the path to $50. For this bullish TRUMP price prediction to come true, this token must turn this resistance into support and surpass the low resistance between $25 and $50.
Moreover, the historical price pattern and its price chart also support the possibility of $50. According to the technical indications, the Relative Strength Index (RSI) is strong, while the MACD indicates bullish momentum. However, with the failure to reclaim, the price could crash back near the $15 support.
Key Factors That Might Fuel This Price Rally
Despite the earlier criticism and doubts over TRUMP coins’ performance, investors’ sentiments favor its recovery. The On-Chain data and a recent CoinGape blog revealed that the whales are accumulating this token in bulk, with some buying over $10 million worth of tokens at a time.
Fueling the spark, BitMEX CEO Arthur Hayes believes TRUMP could surpass Bitcoin’s dominance. He claims this could happen if politicians leverage meme coins for branding and campaign financing.
Additionally, Trump’s crypto project, WLFI, launched its strategic token reserve, Macro Strategy, which is fueling optimism. Some analysts even believe that the firm may acquire the TRUMP tokens.
Such key developments around this crypto token, fueled by technical factors, could favor the rally to $50 by the end of this month.
Final Thoughts on TRUMP Coin’s Future Outlook
The Trump memecoin price reclaiming $23.52 is the key moment to shape its bullish trajectory to $50. The token has already succeeded in reclaiming investors’ interest, fuled by WLFI strategic reserve announcement and whale buying.
However, despite all this, investors should not blindly jump into trade. The token is still down 74% from its prime. Failure to reclaim the $23.52 could further crash it. Moreover, the Bitcoin price movement and macroeconomic trends need to be considered.
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