24 crazy hours of official TRUMP meme coin: Where will the price peak?

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The price of the official meme coin of President Donald Trump, TRUMP, has continuously reached new highs in the past 24 hours.

Currently, TRUMP is trading at $29.25, with the highest level recorded being $32.61. So, how far will the price of this official TRUMP meme coin continue to grow? Let's analyze this topic together with BeInCrypto.

Also Read: Top 3 Notable Donald Trump Meme Coins Before Inauguration

Price Movements of TRUMP Meme Coin in the Past 24 Hours

At the time BeInCrypto updated information about the official TRUMP meme coin, its price was only $18.46. However, at the time of writing this article, the price of TRUMP has soared and is being traded at $29.25. The FOMO sentiment and continuous support from major trading platforms have led to the price continuously breaking new highs. Most recently, the Binance exchange also announced that it will support futures trading for the TRUMP/USDT pair.

Official TRUMP meme coin has become the 4th largest meme coin by market capitalization. Source: CoinGeckoOfficial TRUMP meme coin has become the 4th largest meme coin by market capitalization. Source: CoinGecko

Thus, in less than a day after its launch, the official TRUMP meme coin has become the 4th largest meme coin by market capitalization, at $5.1 billion. The 24-hour trading volume reached over $10 billion, surpassing Dogecoin, Shiba Inu, and Pepe. With these developments, the TRUMP coin is predicted to soon overtake Dogecoin and dominate the meme coin segment.

Forecast for the Price of the Official TRUMP Meme Coin

It seems that the upward trend of the official TRUMP meme coin has not yet stopped, at least before President Trump's inauguration on January 20th. Although it is very difficult for us to make a price prediction for TRUMP coin, if we base it on the market capitalization of the current 3rd largest meme coin, PEPE (around $7.7 billion), then if TRUMP coin surpasses PEPE, it could reach a price of around $38. In reality, this price level is only about $6 higher than the peak TRUMP has recently reached.

In a more favorable scenario, if TRUMP coin surpasses DOGE, then at a market capitalization of around $58 billion, as DOGE currently has, the forecast for the official TRUMP meme coin price would fluctuate between $290 - $300. However, this scenario seems less likely in the short term, as TRUMP coin may witness sell-offs from investors when their investments have significant profits.

Can TRUMP Coin Surpass DOGE?

The advantage of TRUMP coin at the moment is that it is the official coin of President Donald Trump, a person who is expected to bring many positive waves to the cryptocurrency market in his new presidential term. However, the nature of meme coins is usually uncertain and follows unpredictable trajectories, and TRUMP coin is no exception. The success of meme coins in general and the official TRUMP meme coin in particular will depend on many factors, including the interest of the community.

Nevertheless, the most attractive aspect of the launch of the Trump coin may be its timing and context. As Gary Gensler prepares to leave the SEC after years of decisive cryptocurrency enforcement, the new President has launched a meme coin. This is not a random coincidence. From this perspective, it is very possible that TRUMP coin will become a new factor in reshaping the market and surpassing Dogecoin in the future.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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