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Key Insights:
- Justin Sun shared a post on X, stating, “We are committed to buying $100M of $TRUMP.”
- Following this announcement, the price of $TRUMP skyrocketed.
- On-chain data shows $10M in TRUMP inflows to exchanges, hinting at possible profit-taking and short-term selling pressure.
The Official Trump (TRUMP) token is gaining attention in the crypto world. The strong performance of the TRUMP coin price has made it a standout asset. One of its top holders is drawing even more interest.
Billionaire Justin Sun, founder of Tron and HTX, made headlines with a bold announcement. This came as the broader crypto market is rallying. Bitcoin is nearing a fresh all-time high, fueling excitement across the space.
Justin Sun Announces $100M Investment in TRUMP Coin
Justin Sun announced on X that he and his firm plan to invest $100 Million in the TRUMP meme coin. Strong backing for the token signals rising investor confidence.
TRUMP coin price could reflect this momentum as interest grows. He added, “TRUMP and TRON are the future of crypto.”
He continued, “This move highlights our belief in collaborating across ecosystems to grow the crypto landscape with communities such as GetTrumpMemes. TRUMP on TRON is the currency of MAGA.”
This post by the Tron founder gained widespread attention from crypto enthusiasts and spread like wildfire. So far, it has garnered over 233.1K views on X.
The official TRUMP X handle acknowledged Justin Sun’s $100 Million plan for TRUMP. In a post, TrumpMeme shared, “We are so excited that justinsuntron / trondao is buying $100 million worth of TRUMP.”
This post also gained widespread attention and went viral on X, amassing 307.8K views in just a few hours.
TRUMP Coin Price After Justin Sun’s Recent Post
These posts on X are a beneficial catalyst for the TRUMP coin price. It has skyrocketed along with increased participation from traders and investors.
At press time, the meme coin was trading near $9.17. It had recorded a price surge of over 8.10% in the past 24 hours. During the same period, its trading volume skyrocketed by a massive 200% compared to the previous day.
This surge in trading volume and the price increase suggest strong upside momentum and sustainable gains. These are a strong bullish signal for TRUMP coin holders.
TRUMP Technical Analysis and Price Prediction
Expert analysis reveals that the TRUMP coin price has broken out from its extended consolidation phase near $8.50. This upward move marks a significant technical shift.
Before the rally, a bullish divergence was spotted on the daily chart. That signal attracted investors and helped fuel the impressive price surge.
TRUMP coin price may rise another 20% if the current momentum holds. Historical trends suggest it could climb toward the $10.60 mark.
On the other hand, if the momentum fades, price consolidation or sideways movement could also be possible. TRUMP’s Relative Strength Index (RSI) stands at 48 at press time, indicating a neutral zone.
This suggests that the asset is neither overbought nor oversold. It further left room for further upward movement if buying pressure increases. However, a drop below this level could signal weakening momentum and potential consolidation in the near term.
Investors Dump $10 Million Worth of TRUMP Coin
Given the current market sentiment, investors are taking this opportunity to dump TRUMP coins, as Coinglass reported. Exchanges saw a hefty $9.91 million worth of TRUMP coins flow in right after the announcement. This strong inflow signals heightened market interest and investor engagement.
Such a substantial inflow in this market structure suggests potential distribution. This could lead to selling pressure or a price correction.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
