TRUMP Meme Coin Targets $92 After $38B Trading Surge—Will It Deliver?

The TRUMP meme coin, associated with President Donald Trump, officially launched on January 17, 2025, on the Solana blockchain. 

According to the launch page, the coin aims to represent support for values embodied by the “$TRUMP” symbol and its related artwork. An initial supply of 200 million coins was made available, with plans to expand the total supply to 1 billion over the next three years. 

The coin operates on the Solana blockchain, with its smart contract address publicly accessible.

High Trading Volume and Market Trends

Since its launch, TRUMP has experienced robust trading activity, accumulating $38 billion in total spot trading volume on centralized exchanges. Binance accounted for $16 billion of this activity, making it the primary platform for trading TRUMP. 

On January 19, the coin achieved a peak daily spot trading volume of $17 billion, closing at an average price of $62—an 82% increase from its opening price of $34 on January 17. 

However, the price has since dropped to $35.27, reflecting a 12.85% decline in the last 24 hours but an overall weekly increase.

With its current circulating supply of 200 million coins, TRUMP’s market capitalization stands at $7.07 billion, indicating strong interest despite the price fluctuations.

Trading Actions by Prominent Investors

Notable trading activity has been reported from major investors, including a trader known as LeBron. Lookonchain reported that LeBron sold 4.52 million TRUMP tokens for $185 million at an average price of $41 but missed out on a potential $180 million profit due to an early sale. 

In a subsequent trade, LeBron repurchased $2.5 million worth of TRUMP tokens but quickly sold at a $67,000 loss.

LeBron sold 4.52M $TRUMP($185M) for 4.52M $USDC at an average price of $1, cashing out too early and missing a $180M profit.

2 hours ago, he spent 2.5M $USDC to buy $TRUMP again, but quickly sold for 2.43M $USDC, taking a $67K loss.https://t.co/LXnruyAPDb pic.twitter.com/ZfcDifYHCw

— Lookonchain (@lookonchain) January 22, 2025

These trading decisions highlight the volatile nature of TRUMP’s market, where rapid price swings can lead to significant profits or losses.

Technical Analysis Points to Bullish Reversal

According to Rose Premium Signals, a double bottom pattern has formed on TRUMP’s price chart, signaling a potential bullish reversal. The support level has been identified at $31.88, with a target price set at $92.14. 

Current price movements near $41.79 indicate consolidation, with traders considering it an accumulation phase.

Technical analysts recommend monitoring trading volume and entering positions above the support zone, while a stop-loss order below $31.88 is suggested to mitigate risks. Key resistance levels include $50 and $70, which traders are watching as possible breakout points.

TRUMP remains a trending token in the market as traders analyze its price movement and patterns for potential opportunities.

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