TRUMP Price Breakout & ETF Set $54 Target, Donald Trump’s Comments Stir Volatility

TRUMP price gave a strong breakout gaining 20% after Donald Trump's comments triggered major volatility followed by strong whale buying.
By Bhushan Akolkar
TRUMP Price Breaks Out 15% Amid ETF Reports, Donald Trump Reacts

Highlights

  • TRUMP price breakout from a bullish falling wedge pattern, sets a target of $54.
  • The recent filing of TRUMP ETF applications by REX Financial and Osprey Funds fuelled the rally.
  • President Trump’s remark, "I don't know much about it," triggered a sharp 33% drop, but a whale bought the dip.

The Official Trump meme coin has bounced back strongly after forming a bottom at $32 with the TRUMP price up 20% at press time moving past $41. This surge comes amid developments of fresh TRUMP ETF filings with the US SEC on Tuesday. Interestingly, Donald Trump has commented on the Trump meme coin frenzy, which led to strong volatility for the Solana meme coin.

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TRUMP Price Breakout Sets $54 Target

Crypto analyst Ali Martinez reported that TRUMP token has successfully broken out of a falling wedge pattern, a bullish technical indicator. According to Martinez, the token’s breakout positions it for a potential surge, with a TRUMP price target of $54.

Source: Ali Charts

According to Coinglass data, the TRUMP futures open interest is up 14%, shooting past $1.0 billion, indicating bullish sentiment among traders. Also, the 24-hour liquidations have shot to $24 million, of which $14 million is in short liquidations.

Additionally, blockchain analytics firm Santiment reported that TRUMP is still the top trending crypto coin discussed among investors, following its contentious listing on Coinbase. In addition to its market activity, TRUMP has drawn significant attention due to its airdrop events. A recent airdrop distributed $1 million worth of TRUMP tokens, fueling heightened interest and engagement from the crypto community.

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TRUMP Price Surge Amid ETF Filings

Another reason behind the TRUMP price surge today is the recent ETF filings for the newly launched meme coin. On Tuesday, REX Financial and Osprey Funds submitted their filings to the U.S. Securities and Exchange Commission (SEC) for a potential TRUMP ETF.

Interestingly, this filing comes just three days after the launch of the Official Trump (TRUMP) meme coin. It also outlines REX-Osprey’s plans to introduce a range of crypto-focused funds. In addition to TRUMP ETF, Rex also submitted ETF filings for other meme coins like Dogecoin and BONK.

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Donald Trump Comments Stir Volatility

When asked about the TRUMP meme coin launch during yesterday’s press briefing to reports, the President said: “I don’t know much about it other than I launched it. I heard it was very successful. I haven’t checked.”

During a press briefing, a reporter noted that the TRUMP price surge generated several billion dollars in the past few days. In response, the president quipped, “Several billion? That’s peanuts for these guys,” gesturing toward SoftBank’s Masayoshi Son, OpenAI’s Sam Altman, and Oracle’s Larry Ellison, who were present in the room.

Meanwhile, Donald Trump’s comments instantly triggered sharp volatility in the meme coin. Soon after the US President made his comments at 6:00 PM ET, three minutes later, the TRUMP coin experienced a sharp 33% drop in value.

Buy-The-Dip Strategy Fuels Discussions

Notably, a wallet seized the opportunity, purchasing $5.09 million worth of the token at the exact bottom of the dip. This transaction marks one of the largest single purchases since the coin’s launch, reported The Kobeissi Letter.

The market quickly rebounded, and within 14 minutes, the trader’s investment had already gained $2.4 million in value. The timing of the purchase has raised doubts about whether it’s an insider job.

Source: The Kobeissi Letter

As Donald Trump takes charge at the White House, Wall Street heavyweights anticipate that Trump’s crypto policies will simplify investment pathways, creating opportunities for major players like JPMorgan and BlackRock Inc.

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Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
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