TRUMP Meme Coin Poised for 40% Surge Targeting $63 Level, Here's Why

The Official Trump (TRUMP), a recently launched meme coin on the Solana blockchain, is making waves and gaining significant attention from crypto enthusiasts.

The Official Trump (TRUMP) meme coin, launched on the Solana blockchain, has garnered immense attention from crypto enthusiasts. As per CoinPedia’s technical analysis, examining the hourly time frame, TRUMP appears bullish, having broken out of a minor consolidation formed around a resistance level at $40. Moreover, the meme coin has also broken out of a downtrend it has faced since January 19, 2024.

Following this breakout, the sentiment is shifting from a downtrend to an uptrend. Based on recent price action and historical price momentum, if the TRUMP meme coin closes an hourly candle above the $45 level, there is a strong possibility it could surge by 40% to reach the $63 level in the coming days.

On the positive side, with TRUMP’s Relative Strength Index (RSI) at 53, the meme coin indicates potential upside momentum and suggests an ideal buying opportunity.

At press time, the meme coin is trading around $42 and has seen a price increase of over 2.6% in the last 24 hours. However, during the same period, historical price momentum shows that trader and investor participation has declined, resulting in a 50% decrease in trading volume.

Despite lower participation, some investors and whales have been accumulating TRUMP meme coins, as the token is currently down by almost 47% from its all-time high. Moreover, the tokens are backed by United States President Donald Trump.

Additionally, data from the on-chain analytics firm Coinglass’s spot inflow/outflow metrics revealed that exchanges have experienced an outflow of TRUMP tokens valued at an astonishing $268.8 million.

This substantial outflow from exchanges indicates potential accumulation and could soon impact TRUMP’s price and upside momentum.