Key Takeaways
- •TRUMP has confirmed a falling wedge breakout, with a potential target of a 70% rally toward $13 by the end of the year.
- •Discussions regarding the acquisition of Republic.com's operations and a planned $200 million buyback program for TRUMP tokens are bolstering bullish fundamentals.
TRUMP Memecoin Stages Significant Comeback
Official Trump (TRUMP), a memecoin operating on the Solana blockchain and associated with US President Donald Trump, is demonstrating a notable resurgence after experiencing a 90% decline earlier this year. The meme token has rallied by over 450% from its low of $1.50 in October, currently trading above $8.30. Technical analysis and fundamental indicators suggest the potential for an additional 70% rally by year's end.
Falling Wedge Breakout Signals Bullish Momentum
TRUMP's price action appears to have confirmed a bullish breakout from a falling wedge pattern that has been forming for months. This pattern is recognized in technical analysis as a reversal structure that often precedes significant trend shifts. The increase in TRUMP's price above the wedge's upper trendline in late October was accompanied by a surge in trading volume, indicating renewed market interest following a period of decline.
Based on technical projections, TRUMP's price could ascend towards the $13 mark by the close of the year. This target is derived by measuring the maximum height of the wedge and adding it to the breakout point. Such a movement would represent approximately a 70% increase from current trading levels. This projection aligns with analyses shared by market observers, with some anticipating a full recovery towards the prior horizontal resistance area around $16.50.
A sustained price close above the 50-day exponential moving average (EMA), currently around $8.82, would likely validate the bullish continuation trend. Conversely, a failure to maintain this level could lead to a delay in the anticipated rally and a potential retest of the wedge's upper boundary, which may act as support near $6.50.
Strategic Announcements from TRUMP Issuer Bolster Confidence
Investor confidence in TRUMP's revival has been further strengthened by two significant announcements from its issuer, Fight Fight Fight.
On October 30, the company reportedly entered advanced discussions to acquire the United States operations of Republic.com, a prominent crowdfunding platform that has facilitated over 3,000 fundraising rounds. This potential acquisition could integrate TRUMP tokens into Republic's ecosystem, offering real-world utility beyond speculative trading for the memecoin.
Approximately one week later, reports emerged indicating that Fight Fight Fight intends to establish a $200 million digital asset treasury. This fund is earmarked for the buyback of TRUMP tokens, a move designed to reduce circulating supply and enhance scarcity.
Collectively, these strategic developments provide a robust fundamental underpinning for TRUMP, reinforcing the positive outlook suggested by the technical indicators, including the falling wedge breakout.