The $TRUMP coin has become a focal point of attention following the announcement of a private dinner with Donald Trump. Despite political criticism, investor interest has surged significantly.
Controversial Dinner Invitation Causes Buying Frenzy
The rally for $TRUMP coin began after the announcement of a private dinner with President Trump for the top 220 token holders. The event scheduled for May 22 attracted attention from both crypto investors and political figures. Democratic Senator Jon Ossoff described the dinner as 'selling access to the presidency' and an 'impeachable offense'. Senators Elizabeth Warren and Adam Schiff also called for an ethics probe.
Price Action: $TRUMP Reverses Downtrend
Following the dinner announcement, $TRUMP's price moved above $15.30 after rebounding from a long downtrend. As of now, it is down 8.1% to $14.11. TradingView reports an RSI of 70.99, indicating a continued bullish strength.
Market Context: $TRUMP Leads Meme Coins
In contrast to the rally, the overall meme coin market is down 0.3% in the last 24 hours. Dogecoin has remained flat while PEPE and FLOKI saw marginal increases. Santiment analytics report a 400% rise in mentions of $TRUMP on social media despite regulatory concerns.
The rally of the $TRUMP coin illustrates not just investor interest, but also complex political dynamics, creating a volatile but exciting market. With a trading volume of $1.7 billion and increasing attention from retail and institutional traders, the future of this meme coin will be contingent on upcoming events.
