- $TRUMP memecoin surged 65% in one hour after Trump dinner invite, hitting $15.99 before settling around $13.
- Trading volume spiked 625% to $5.56B, signaling heavy speculative activity driven by social hype and media buzz.
- Technicals show weak momentum; RSI at 43.17 and minor MACD divergence suggest stabilization over short term.
$TRUMP memecoin prices surged rapidly between April 23, prompting a price increase from under $9 to $15.99. A more than 65% price increase in the $TRUMP memecoin unfolded within one hour, at which point trading volume shot up intensely. Market participants responded intensely after disclosing an invitation for the top 220 token holders to dine with U.S. President Donald Trump.
The announcement created an intense surge in trading activity, driving market volume to surpass $8 billion. The market responded to the announcement with increased buying pressure, boosting the fast price ascent. The token maintained its price near $13 after experiencing its initial price surge. During the consolidation phase traders executed trades to capture profits while different investors shifted positions according to brief market sentiments.
Technical Indicators Suggest Weak Momentum After Correction
The price trend of the TRUMP/USDT trading pair shows a sustained descent from its previous value of above $70 to the current level of $12.13. The current trading day shows an 8.73% price drop which appears on the daily chart.
Source:Tradingview
Technical indicators help to enhance understanding about the state of a particular asset. The Relative Strength Index of 43.17 indicates that the $TRUMP token shows neither bullish nor bearish market conditions. The Moving Average Convergence Divergence (MACD) lines display small positive divergence on their histogram, indicating a weak consolidation phase or potential bullish pattern. The technical indicators show that the asset could maintain stability despite having a weak directional momentum that affects its short-term performance.
Volume and Market Metrics Highlight Speculative Trading
The trading volume of $TRUMP exceeded $5.56 billion during the previous 24-hour period while increasing more than 625%. Trader activities surged because market participants showed increased interest which streamed from the media attention about Donald Trump’s dinner invitation. The market capitalization of $2.43 billion indicates speculative trade characteristics because it stands higher than the value of $5.56 billion daily trading volume.
The available data reveals that circulation involves 199.99 million $TRUMP tokens with a total maximum supply of roughly 1 billion. The total potential value of the tokens sets the fully diluted valuation at $12.15 billion. The large discrepancy between available circulating tokens and the potential dilution cap may impact prolonged investor sentiment in the future.
Source: Coinglass
Historical trading data demonstrates that $TRUMP experienced multiple volume and price spikes throughout February at different points. On April 23, the latest price surge of the $TRUMP token occurred during that month. The market actions of $TRUMP fight evidence that the token reacts actively to news-determined trigger points above standard market-based foundations.
The recent price rise demonstrates the trigger effect $TRUMP tokens have toward product announcements and hype from social networks. The market shows strong short-term demand but technical analysis signals the prices are stabilizing and movement will likely stay low. The unpredictable price movement of this volatile speculative asset will probably remain subject to social community events and market-wide market trends.
