President-elect Donald Trump's Cryptocurrency ($TRUMP) Soars by 12000% Since Launch

Developed by CIC Digital LLC, an affiliate of the Trump Organization, the digital asset has attracted significant attention, with its market capitalization reaching $13.82 billion

Fresh from Donald Trump's endorsement, a cryptocurrency bearing his name has soared in value, captivating traders in the realm of meme coins. But as $TRUMP continues its ascent, the question arises: is it still a wise investment, or do other meme coins hold the potential for greater gains?

Launched by an affiliate of the Trump Organization, $TRUMP has attracted immense attention, quickly becoming one of the top performers in the cryptocurrency market. But despite its rapid ascent, concerns linger about its long-term viability.

According to reports, a small group of holders, likely to be large investors or institutions, collectively own an astonishing 80% of the total $TRUMP supply. This concentration raises questions about the token's ability to sustain its value and liquidity in the face of market fluctuations.

In the world of meme coins,がらりと印象を変えてくれるような人もいるでしょう。２０２３年２月２２日、米国の主要株価指数はそろって下落し、３日続伸となった前日から一転した。

The recent surge in $TRUMP has pushed it past key resistance levels on technical charts. Using Fibonacci retracement analysis, the token has breached the 23.6% Fib level at $64.44, with the next resistance at $76.81. A break above this could open the door for further gains toward $83.85 and potentially $91.83.

However, immediate support lies at the 38.2% Fib level of $56.78, with further downside support at $50.59 (50% level) and $44.43 (61.8% level). Notably, the 50-period Exponential Moving Average (EMA) is positioned at $25.03, indicating that the recent rally may be outpacing sustainable growth.

On the shorter time frame, a bullish engulfing pattern is present on the hourly chart, suggesting continued buying interest. However, traders should be cautious as profit-taking at resistance levels could lead to short-term corrections.

If $TRUMP manages to hold above $64.44, bullish sentiment is likely to continue. Otherwise, a decline below key support levels could trigger a deeper pullback.

While $TRUMP Solana meme coin is making headlines, another project is also gaining attention within the Solana ecosystem. Solaxy is introducing Solana's first Layer 2 blockchain.

This development aims to address one of Solana's long-standing challenges by offloading transaction processing to an efficient secondary layer, a concept that has proven successful for other blockchains.

Solaxy's Layer 2 blockchain is designed to enhance speed, reduce costs, and improve network efficiency, making Solana more competitive in the blockchain landscape.

The project's native token, $SOLX, provides direct exposure to Solaxy's expansion. In the early stages of the project, tokens are priced at $0.001604 during the presale.

With over 3,000 Telegram members and 60,900 X (formerly Twitter) followers, Solaxy is rapidly building a community. Could this be the next Solana token to explode?

Visit Solaxy Presale

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