Justin Sun Announces Plans to Purchase Official Trump Meme Worth $100M: What Next for $TRUMP Price?
The post Justin Sun Announces Plans to Purchase Official Trump Meme Worth $100M: What Next for $TRUMP Price? appeared first on Coinpedia Fintech News
Justin Sun, a serial entrepreneur with a keen focus on blockchain technology and the web3 space, has announced a strategic investment in Donald Trump-backed memecoin dubbed Official Trump ($TRUMP). The Tron ( TRX ) founder announced he is committed to purchasing $TRUMP tokens worth $100 million in the near term.
The announcement follows a recent move by the Official Trump memecoin team to bridge $TRUMP into the Tron blockchain through the LayerZero chain. According to Sun, the $100 million investment in TRUMP memecoin highlights Tron’s commitment to partner with vibrant crypto communities.
$TRUMP Price Ready for Bullish Breakout
The $TRUMP memecoin has grown to a market cap of about $1.8 billion and a fully diluted valuation of around $9 billion. Following the announcement, TRUMP price gained 5 percent on Wednesday to trade around $9.01 during the mid-North American trading session.
The sudden $TRUMP price gain today coincided with the BTC price rally towards a new all-time high of about $112k. As a result, the $TRUMP price is well-positioned to rally in the coming weeks, especially if the BTC price consistently closes above $112k.
From a technical analysis standpoint, the TRUMP price has been forming a double bottom coupled with bullish divergence of the daily Relative Strength Index (RSI). With the memecoin having retested the recent breakout of a falling logarithmic trend, a potential parabolic rally towards its all-time high has a high chance.
Crypto Expert Peter Brandt Warns Bitcoin Rally Is At Risk – Here’s Why
The post Crypto Expert Peter Brandt Warns Bitcoin Rally Is At Risk – Here’s Why appeared first on Co...
FTX Faces Backlash: Chinese Creditors Fight Payout Freeze Over Fairness and Legal Grounds
The post FTX Faces Backlash: Chinese Creditors Fight Payout Freeze Over Fairness and Legal Grounds a...
Jack Ma’s Ant Group Joins Circle to Bring USDC to Blockchain
The post Jack Ma’s Ant Group Joins Circle to Bring USDC to Blockchain appeared first on Coinpedia Fi...