• Trump Coin has risen 16% in the last 24 hours, reaching $20 after a dip to $16.
  • However, the memecoin remains 75% below its all-time high of $75.35.

Official Trump (TRUMP), the meme coin launched by U.S. President Donald Trump, has been making waves in the crypto market once again, climbing 16% in the last 24 hours to reach $20. After dipping to the $16 zone, the coin has shown signs of recovery. However, it’s still 75% lower than its all-time high of $75.35, recorded just two days after its launch on January 17.

Will Trump Coin Reclaim Its Earlier Gains or Continue to Struggle Below $20? image 0 Official Trump Coin Current Price Chart (Source: CMC )

The hype surrounding the launch of TRUMP Coin was massive as it entered the market just two days before Donald Trump took office, especially given his pro-crypto stance. It quickly gained traction, even making its way onto major exchanges like Binance and Coinbase. Now it stands as the fourth-largest meme coin by market cap, behind only DOGE, SHIB, and PEPE. For a brief moment, TRUMP Coin even overtook Shiba Inu in earlier days.

But the excitement soon faded, as the global crypto market took a hit. Bitcoin’s dip to $91K dragged down the market, and TRUMP Coin’s momentum slowed. Still the meme coin managed to make between $86 million and $100 million in trading fees by January 30, according to reports. Additionally, some of the largest investors have made significant profits (at least $10 million each), though many small investors (200,000 crypto wallets) have lost money.

These conditions suggest a challenging trading season ahead unless significant external factors, such as Trump’s involvement in the crypto market, help propel prices. Speculation is growing that TRUMP Coin could make a comeback and even hit $100 by 2025.

Could the TRUMP Coin Price Rise Again?

Currently, TRUMP Coin is priced at $19 and has a market cap of $3.76 billion. Also, it has a daily trading volume of $2.44 billion, a 13% increase. Zooming out to its weekly performance, the meme coin has recorded a 30% downward movement. 

Trump Coin’s 4-hour technical indicators suggest a slightly bullish trend, but a strong external catalyst is needed for a full recovery. The signal line stands below the MACD line, hinting at positive sentiment. Additionally, TRUMP’s RSI value of 47 confirms the current capital flow. But the market is relatively in a neutral zone, suggesting there’s no strong indication of a trend reversal in either direction.

Will Trump Coin Reclaim Its Earlier Gains or Continue to Struggle Below $20? image 1 Official Trump Coin 4 hours chart (Source: TradingView )

So TRUMP Coin needs strong propellants in the coming days to break free from the bearish hold. The ADX stands at 27.67 and shows a moderate trend which is gaining strength but may not yet be considered a fully strong trend.

If TRUMP Coin can stabilize above $18 and break through the $20 mark, it could see a rally toward $25, with $30 being its next immediate resistance. Also, if the momentum further strengthens, then the meme coin could reach $50.

However, the altcoin is facing strong rejection at $20, making $18 a strong support level. If it loses momentum there, any drop below $18 could send it plummeting to $15 or even $10.

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