The $TRUMP meme coin recently witnessed a notable increase to $17, sparking interest in its potential recovery. However, several factors may impact its further development.
Market Analysis
The market capitalization of $TRUMP stands at approximately $3.48 billion, with a circulating supply of 200 million coins out of a total 1 billion. Initial observations indicate a decrease in trading volume, down from peak daily volumes of $30 million to the current $1 million. The lack of active retail participation raises concerns that the remaining volume may be largely driven by artificial trading, such as market makers and bots.
Major Holders' Interests
Many large holders, including exchanges like Binance, Gate.io, and Kraken, continue to hold significant portions of the token's supply. This concentration among a few major holders introduces the risk of sell-offs that could further suppress price growth. The forthcoming release of additional tokens also poses a potential increase in selling pressure.
Price Prediction and Growth Factors
Optimism exists regarding the coin's potential rally, with consolidation between $20 and $16.5. A breakthrough of the $20 resistance is expected to lead to a rise to $22.5 or higher. Technical indicators and trading volume will play key roles, particularly as most tokens are set to be unlocked within the next 71 days.
Overall, the outlook for $TRUMP remains uncertain, especially with decreasing holder engagement and trading activity. While price rebounds are possible, the lack of retail demand and upcoming token unlock events raise concerns about sustained growth.
