TRUMP Meme Coin Boosted by Upbit Listing
The OFFICIAL TRUMP meme coin (TRUMP/USDT) has witnessed an electrifying surge of 35% in just the last 24 hours, breaking through the $22 barrier following its much-anticipated listing on Upbit, South Korea’s largest cryptocurrency exchange. This Solana-based token officially launched for trading on February 13 at 18:00 KST, enabling trades against the South Korean won, Bitcoin (BTC), and Tether (USDT). Post-announcement, deposits and withdrawals opened two hours later, paving the way for active trading. However, Upbit implemented restrictions on initial buy orders for the first five minutes and disabled non-limit orders for the first hour to manage volatility.
🚨BREAKING: UPBIT is listing $TRUMP! Meme mania isn’t over; it’s just getting started. But remember, hype fades fast. Always conduct thorough research before jumping in! 👍#Trump #MELANIA #VINE #TST #memecoin pic.twitter.com/dGCST5wpNF— Rananjay Singh (@TodayCryptoRj) February 13, 2025
Market Rebound After Early Sell-Off
Initially launched just before former President Donald Trump’s inauguration, the TRUMP meme coin skyrocketed to a staggering market cap of over $10 billion, reaching a peak price of $39.63. However, the excitement was short-lived as early traders swiftly offloaded their holdings, plunging the price down to $4.29 by January 18. Yet, optimism has returned to the market, and the token has remarkably rebounded due to strategic exchange listings and renewed interest from investors. Despite its significant recovery, TRUMP’s market cap still lags far behind its impressive initial peak.
Daily Technical Outlook: February 14, 2025
The OFFICIAL TRUMP token (TRUMP/USDT) has not only rebounded but surged to $21.93 amid strong buyer interest, which translates to a 35% increase in a 24-hour timeframe. Following a consolidation period around $14.12, the token aims to breach the 23.6% Fibonacci retracement level positioned at $29.27. This surge is backed by the appearance of a bullish engulfing pattern on the daily chart, indicating a wave of renewed optimism among traders.
🚨OFFICIAL TRUMP (TRUMP/USDT) – Feb 14, 2025 📷TRUMP surged 35% to $21.93, aiming for the 23.6% Fib level at $29.27. The bullish engulfing pattern hints at further potential gains. 📷 Key Insights: 📷 Target: $29.27 (23.6% Fib) Resistance: $38.56 & $46.19 Support: $14.12 🎯 pic.twitter.com/bsM7JtGfD8— Arslan Ali (@forex_arslan) February 14, 2025
Critical Fibonacci retracement levels highlight resistance at $29.27, followed by major hurdles at $38.56 and $46.19. A breakout above these thresholds could potentially guide the token to $53.65, in line with the 61.8% retracement level. Conversely, immediate support rests at $14.12, with a more significant cushion at $8.41 should selling pressures resurface. The current position of the 50-day EMA at $32.05, hovering above the price, suggests there is ample room for further growth. The bullish engulfing candle pattern, coupled with increasing trading volumes, reveals a rising interest in the market, positioning TRUMP for possible upward momentum if support holds.
Insights and Technical Analysis
Key Insights from the analysis include:
- A bullish engulfing candle signifies a potential rally towards $29.27.
- The 23.6% Fibonacci retracement at $29.27 serves as an immediate target.
- Support at $14.12 is crucial for maintaining the current uptrend.
Spotlight on Solaxy ($SOLX)
While TRUMP captures the headlines, another standout Solana-based project is making waves — Solaxy ($SOLX), the network’s first Layer 2 scaling solution designed to alleviate congestion and reduce transaction fees. Solaxy has garnered significant attention, raising over $20.87 million in its presale, drawing interest from more than 68,000 followers on X. With an expanding user base on Solana, the demand for efficient and scalable infrastructure continues to grow. Solaxy promises speedy transactions, enhanced interoperability with Ethereum, and smooth cross-chain communication.
With the current presale figures indicating a staggering 5.9 billion tokens staked and an attractive annual staking reward rate of 195%, the window for entry may soon close as the price hovers around $0.001634, with a price hike on the horizon.
Why It Matters
The rapid rise of the TRUMP meme coin reflects broader trends in the cryptocurrency market, where novelty coins can rapidly garner investor interest, particularly in the wake of significant exchange listings. Such developments shed light on the potential for volatility in meme coins and their ability to draw attention quickly, often fueled by social media buzz. For investors, understanding these dynamics is essential for making informed decisions in a landscape rife with both opportunities and risks.
Future Outlook
Looking ahead, the trajectory of the TRUMP token and its counterparts like Solaxy will depend heavily on market sentiment, regulatory developments, and broader economic factors. If the current bullish momentum sustains, the TRUMP token could see further gains, particularly if it manages to break through critical resistance levels. However, as with all cryptocurrencies, potential investors should remain vigilant, recognizing that the landscape is highly speculative and subject to swift changes.