Key Notes

Key Notes:

The Official Trump (TRUMP) meme token has shot up 5% in the last hour, soaring past the $17 price tag.This surge came right after crypto entrepreneur Arthur Hayes predicted that TRUMP could lead the Bitcoin rally if the market sentiment turns bullish.Hayes also forecasted that Chinese President Xi Jinping could release a meme token of his own.

The Official Trump TRUMP $16.55 24h volatility: 4.3% Market cap: $3.31 B Vol. 24h: $630.43 M meme coin shot up 5% in the past hour and trades at $17.23 at press time, following a 165.68% rally over the past month. Despite the meme token trading at a discount of 77.11% from its all-time high (ATH), which it hit approximately a month ago, crypto exchange BitMEX’s founder, Arthur Hayes, has predicted a massively bullish future for the cryptocurrency.

Hayes stated in a blog post that meme coins will have a major impact on the political landscape of the United States, predicting that by the 2026 midterm elections, numerous political figures will leverage meme coins to promote their personal brands and engage with voters. The entrepreneur emphasized that meme coins provide a blend of entertainment and political messaging, making them a unique form of outreach.

The BitMEX co-founder even speculated that United States President Donald Trump himself monitors the price of TRUMP, reflecting the token’s potential influence in political circles. According to Hayes, TRUMP’s price movements may serve as an indicator for broader crypto market sentiment.

Hayes noted that TRUMP is down roughly 80% from its peak, while Bitcoin BTC $96 656 24h volatility: 1.2% Market cap: $1.92 T Vol. 24h: $18.59 B has not yet retested $110,000 — the level seen at the height of TRUMP mania. He theorized that if sentiment around crypto improves, TRUMP could lead Bitcoin’s rally. Hayes said:

“If some policy that those in the political know believe will positively impact crypto, TRUMP will surge well before the positive news is announced, and then Bitcoin will follow.”

The crypto entrepreneur went as far as to predict that Chinese President Xi Jinping might launch a meme coin in the future. He suggested that Xi could use a meme coin as a form of political validation.

A key technical milestone for TRUMP on the 4-hour chart is its recent reclaiming of the 20-day Exponential Moving Average (EMA) at $16.91. This could signal a potential recovery phase, with traders closely watching whether the token can sustain this level.

Also, the immediate support for the meme token stands at $16, while stronger support is present at $14.50, a drop below which could result in a bearish breakdown. On the other hand, the immediate resistance for the altcoin is $18.50, while a major resistance sits at $21, a key psychological level and potential breakout point if buyers remain dominant.

Additionally, the Relative Strength Index (RSI) for the TRUMP price action reads a value of 62.73, which confirms that the bulls are currently in charge as the gradient of the line suggests an entry into the overbought zone in the near future. Meanwhile, the MACD indicator remains bullish with the MACD line (blue) traversing above the signal line (orange). The histogram is also green with the intensity of the bars increasing.

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.

Parth Dubey on LinkedIn

Julia Sakovich on X