10 hours ago
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Key Notes
- TRUMP token increased by 16%, now trading around $14.19.
- Whale bought $5.53M worth of TRUMP on Friday, driving momentum.
- Total meme coin market cap rose 15% to $65.69 billion.
The United States president Donald Trump’s meme coin, Official Trump TRUMP $12.85 24h volatility: 0.3% Market cap: $2.57 B Vol. 24h: $951.17 M , has recorded a 16% price increase in the past 24 hours, currently trading near $14.19. Trading volume has also skyrocketed by around 150%, signaling renewed investor interest.
The broader meme coin market echoed this bullish momentum, with a 15% rise in total capitalization, now hovering around $65.69 billion. Alongside TRUMP, top meme tokens like DOGE DOGE $0.18 24h volatility: 5.1% Market cap: $27.07 B Vol. 24h: $1.05 B , SHIB SHIB $0.000014 24h volatility: 2.3% Market cap: $8.04 B Vol. 24h: $173.43 M , PEPE PEPE $0.000009 24h volatility: 1.5% Market cap: $3.71 B Vol. 24h: $591.98 M , and BONK BONK $0.000019 24h volatility: 2.3% Market cap: $1.46 B Vol. 24h: $206.99 M also posted double-digit gains.
TRUMP’s market capitalization has swelled by 42% over the last three days, reaching $2.85 billion at the time of writing.
The rally is potentially a result of heightened whale activity. Earlier on Friday, a whale purchased 390,435 TRUMP tokens for $5.53 million at $14.16, according to the data by LookOnChain.
A whale spent $5.53M to buy 390,435 $TRUMP at $14.16 five hours ago.
This whale also spent 2,492 $SOL($371K) to buy 4.45M $AVA($488.6K) 2 days ago and currently has an unrealized profit of $117K.https://t.co/G4SDmOPNoo pic.twitter.com/S55boMCS1W
— Lookonchain (@lookonchain) May 9, 2025
Trump price outlook
On the 4-hour TRUMP price chart, the RSI is currently at 81.5, indicating that the meme coin is in overbought territory. While this suggests bullish enthusiasm, it also raises the risk of a correction as short-term traders may book profits ahead.
TRUMP price chart with RSI and Bollinger Bands | Source: Trading View
Bollinger Bands show that TRUMP is trading near the upper band, suggesting strong buying pressure. However, consistent price movement outside the band may point to a potential pullback.
If the price moves down to mid band (20-day SMA), traders could see support around $12.20, with a stronger floor at $10.80.
Meanwhile, the MACD line remains above the signal line with the increasing histogram bars, hinting growing strength in the uptrend. For now, key resistance lies near $15.50, a psychological barrier.
TRUMP price chart with MACD | Source: Trading View
Scrutiny of trump’s crypto plans
While TRUMP token continues to be the talk of the crypto town, Democrats are intensifying scrutiny of Donald Trump’s involvement in cryptocurrency ventures, particularly the TRUMP meme coin, via a congressional action.
As per a CNBC report, the step, led by figures like Rep. Maxine Waters and Sen. Richard Blumenthal, includes disrupting legislative processes and initiating investigations.
Sen. Blumenthal has specifically labeled the TRUMP meme coin dinner contest, which offered access to Trump in exchange for token holdings, a “pay-for-play scheme,” and demanded financial records from Fight Fight Fight LLC. and World Liberty Financial.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
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