President Trump’s announcement of an exclusive dinner with the top 220 holders of his memecoin led to a significant 52% surge in the price of the TRUMP token. However, doubts remain regarding the longevity of this rally. While Bitcoin has shown signs of recovery, the TRUMP memecoin has underperformed since its launch, struggling to justify its current market valuation of $2.6 billion, especially as a considerable portion of the token supply is controlled by Trump and his associates. The TRUMP memecoin, despite being listed on major exchanges and maintaining high trading volume, faces skepticism about its ability to sustain such price growth based solely on promotional events. Other established cryptocurrencies with tangible value and utility continue to trade at lower market caps. Although some speculate that the TRUMP token could see price targets as high as $30, the lack of lasting demand raises concerns about sustaining its recent gains. Overall, the future of the TRUMP memecoin remains uncertain in the crypto market.

Source 🔗