The Official Trump Meme Crypto token has returned; will MELANIA Crypto partake in the revenge rally?
The Donald Trump meme coin has resurfaced, showing a 46% increase over the past week and boasting a crypto market cap of $1.67 billion, according to CoinGecko.
This Solana-based coin, once deemed a lost cause during the last market downturn and the apparent Trump rugpull, is making a significant comeback, appearing to be part of a classic relief rally. With trade tensions easing and a renewed appetite for risk, we may FINALLY witness an alternative coin rally. Or is it too soon?
The Trump Meme Coin Recovers from Its October Lows
Crypto Fear and Greed Chart
1y
1m
1w
24h
The TRUMP coin experienced a ledger low of nearly $1 billion in crypto market cap on October 10, following a significant selloff driven by Trump’s tariff threats against China. During that week, the crypto market saw over $19 billion in liquidations, marking one of the largest wipeouts in the sector’s history.
Since then, TRUMP has surged by 55%, and the trading volume over the last 24 hours has jumped from $300 million to $2.4 billion, indicating that speculative traders are reentering the trading market. Meanwhile, the Melania meme coin is up 37.6% but has slipped 1.2% in the past day.
“As TRUMP continues to be pivotal to the president’s larger ‘PolitiFi’ narrative, it’s expected for the token to gain traction, especially after a prolonged phase of selling pressure,” stated Jasper De Maere, desk strategist at Wintermute.
This rally corresponds with recent geopolitical events such as the US and China reaching a preliminary trade agreement and the US reducing tariffs with South Korea, both of which have improved trader sentiment towards risky assets.
Speculation Heats Up as Trump Media and Supporters Fuel Interest
The increase in TRUMP is aligned with Trump Media preparing to launch a blockchain prediction trading market and World Liberty Financial initiating its free token distribution, stoking the PolitiFi enthusiasm. Trump has even touted the token as a “real-time approval tracker,” and lately, the chart indeed reflects that.
On the other hand, Glassnode data indicates that the supply of TRUMP held by short-term holders has only marginally increased, hinting at a fragile foundation that could quickly dissipate if macroeconomic sentiment shifts.
Meanwhile, opposition from lawmakers is increasing. Senators Elizabeth Warren and Bernie Sanders sent a letter to regulators this week, cautioning that Trump’s proposal to enable 401(k) investments in crypto could “endanger Americans’ retirement savings,” labeling it a “serious conflict of interest.”
Trump Memecoin: Key Insights
The rally of the Trump coin mirrors the political spectacle from which it originated. Rumors of policy changes, campaign footage, and televised remarks now resonate within its chart.
For regulators, this represents a challenging scenario, but for traders, it offers market fluctuation sustained by political dynamics, specifically those surrounding the US presidency. LOL.
Join the Utility Wave with BTC Hyper Now
Key Takeaways
- The Donald Trump meme token has resurfaced, showing a 46% increase over the past week and boasting a crypto market cap of $1.67 billion.
- Trump’s coin rally has become a reflection of the political spectacle that fueled it.
The post Official Trump Meme Coin is Back, Will MELANIA Crypto Join Revenge Rally? appeared first on 99Bitcoins.
