Meme Coin TRUMP soars 20% every day after a major announcement: what are the next targets?

Most major cryptocurrencies have seen minor gains or losses over the past 24 hours, suggesting that the market as a whole has consolidated after the recent turmoil.

However, the Trump official (TRUMP) has defied the current calm after reaching double-digit rates during this period. Find out what sparked this move and if this is the start of a major bull run.

A “big manipulation” to come?

The meme coin briefly touched $2.90 before retreating to the current level of $2.75 (per CoinGecko), representing a daily increase of around 20%. Its market capitalization has soared to almost $700 million, making it the 90th largest cryptocurrency and the sixth in its niche.

The most obvious catalyst for the recovery appears to be announcement that official Trump will make an appearance at Korea Blockchain Week (a major blockchain event taking place between September 29 and October 1 in Seoul).

According to many analysts, the same coin could generate much more substantial gains in the near future. User X Cyriptoman4 note that the price is yet to break through the $3 to $3.15 resistance level, eyeing a rally above $10 if it remains consistently above the upper boundary.

Crypto Patel claimed that the asset decisively broke out of the crucial zone at $2,055, argue that if this level remains as support, it could open the door for a parabolic push towards $15.

“TRUMP is already up 160% from the bottom in just 10 days. Don’t chase the green candle. Wait for a healthy retracement and let the price come to you,” the analyst added.

User X Crypto with Haris ₿ also gave his opinion on the subject, forecast an explosion in the price of the meme coin to $20 before Donald Trump resigned as President of the United States.

The token came into existence just before its January 2025 inauguration and entered the space with a storm. At one point, its price soared to almost $70, while its market capitalization exceeded $14 billion. Thus, TRUMP briefly became the second largest coin after flipping Shiba Inu (SHIB). Since then, however, the token has seen a massive overall drop, currently trading 96% below its all-time high.

Is this a fraudulent token?

Earlier this week, Crypto along with Haris ₿ made another comment related to the meme coin. He informed Investors should stay away from TRUMP and MELANIA, describing them as “fraudulent tokens” in which only insiders can make money while retail investors always lose.

“TRUMP’s real values are below $1 and MELANIA’s are below $0.01,” he concluded.

The meme coin is indeed primarily driven by speculation and hype rather than fundamentals, meaning traders and investors ready to jump on the bandwagon need to be very careful. The distribution of TRUMP holders should serve as another wake-up call. According to CoinMarketCap, the top 10 addresses control more than 90% of the token supply, increasing the risk of price manipulation.