Trump Coin (Official Trump/TRUMP) has seen a massive price surge over the last few days. The asset is up 10.8% in the daily charts, 7.8% in the weekly charts, 29.5% in the 14-day charts, and 70.7% over the previous month. TRUMP’s rally comes amid a host of bullish developments.
Also Read: Top Crypto to Buy Now as Ripple Eyes Circle Acquisition
Trump Coin Surges Amid Dinner With President Gala
TRUMP’s latest rally could be due to President Trump hosting a dinner for the top holders of the asset. Many, including TRON founder Justin Sun, are expected to have dinner with the President soon. Sun stated that he is the top TRUMP holder, with almost $18.6 million invested in the coin.
Trump Coin’s rally also comes amid Bitcoin’s (BTC) recent climb to $107,000. The original crypto is inching closer to hitting a new all-time high. Despite the rally, BTC seems to be struggling to breach the $108,000 mark.
Also Read: Friedland Sees Copper as the ‘New Oil’ for Miners
Other positive developments include the GENIUS stablecoin regulation act moving forward. Investors may be anticipating clearer regulations around the crypto space. The development could lead to retail clients feeling more comfortable with crypto investments. TRUMP and other assets could surge with better investor sentiment.
$60 Just Around The Corner?
According to CoinCodex, TRUMP may be entering another bullish phase. The cryptocurrency analysis firm anticipates the asset to continue rallying over the coming weeks. CoinCodex analysts expect TRUMP to trade at $67.67 on June 28. TRUMP’s price will rise by 374.54% if it hits the $67.67 target.
Also Read: Ethereum (ETH) Could Hit $3,000 Sooner Than Expected, Here’s Why
It is also possible that the Trump Coin will not rally as predicted by CoinCodex. The asset does not have any real-world utility. The asset’s price is based on Speculative news, especially developments around President Trump’s crypto ventures. The dinner gala may lead to a rally, but prices may face a correction soon after.
Credit: Source link