In recent days, the $TRUMP memecoin on the Solana blockchain has caught the attention of crypto traders. The coin shows a bullish trend and is seen as promising.
LeBron's $TRUMP Trades
According to Lookonchain, LeBron sold 4.52 million $TRUMP tokens for $185 million and missed a potential $180 million profit. He re-entered the market two hours later, spending 2.5 million $USDC to buy $TRUMP but soon sold the tokens for 2.43 million $USDC, incurring a $67,000 loss.
Circle Mints $USDC
Since the launch of $TRUMP, Circle has minted 2.5 billion $USDC on the Solana blockchain in just four days.
Technical Analysis: Falling Wedge Breakout
As per ALI Martinez, after forming a high near $80, the memecoin is in a falling wedge pattern. A breakout occurred on January 21, with the price now aiming for $54.
On the daily chart, $TRUMP shows a bullish trend with a breakout near $40 resistance. If the daily candle closes above $45, the price could increase by 42% to reach $64. Analysis indicates short-term growth potential.
