US President Donald Trump Is Finally Pumping His Official Meme Coin, Announcing a Dinner with the Top 220 $TRUMP Coin Holders

US President Donald Trump is finally pumping his official meme coin once again, announcing a dinner with the top 220 $TRUMP coin holders.

US President Donald Trump is finally pumping his official meme coin once again, announcing a dinner with the top 220 $TRUMP coin holders.

The Official Trump price rallied by nearly 80% on Wednesday, trading as high as $16.18 before a correction to $13.

The explosive rally has reignited hope among $TRUMP bag holders — many of whom are still sitting on substantial losses.

However, questionable tokenomics and an overheated RSI suggest that prospective buyers should proceed with caution. In fact, a few prominent analysts are concerned that the TRUMP coin could see another rug-pull, owing to its recent token unlock.

Donald Trump Invites Top $TRUMP Holders To Dinner — Here’s Why Experts Are Concerned

$TRUMP dip buyers and bag holders are finally being rewarded for their patience.

After trading as low as $7.14 on April 7th, the Official Trump price rallied to $16.18 on Wednesday after Donald Trump invited the top 220 holders to dinner.

$TRUMP going vertical on news The President will host a dinner with the top 220 holders of his meme coin. pic.twitter.com/EapN73C2NZ

The dinner invitation created significant FOMO. Whales started pouring in millions for a chance to have dinner with the US President, with one investor putting $5 million into the meme coin.

WHAT THE ACTUAL FCKKK ?SOMEONE JUST BOUGHT $5,000,000 WORTH OF $TRUMP TOKEN.pic.twitter.com/PLJfUZk8h6

It wouldn’t be surprising if major crypto firms like Tether and Ripple are pulling the strings to get the attention of the US president.

After all, Ripple donated $5 million to Trump’s inauguration fund, which earned them private dinners with the president.

But prominent analysts are concerned. Aside from the possibility of corruption and illegal financing, experts believe that the TRUMP developer team could be orchestrating a rug-pull.

For the uninitiated, nearly $500 million worth of $TRUMP tokens were unlocked on April 18th, with an additional $5 million being released daily. Critics are saying that the private dinner invitation is nothing more than a desperate move by the developer team to create exit liquidity.

If you’re curious – $500M worth of $TRUMP unlocked less than a week ago, which also kicked off a daily unlock of 492K tokens (~$5M) which will last for the next couple of years, and be INCREASED in July.Enjoy your dinner though. https://t.coingecko.com/en/coins/trump-token-official

If you’re curious – $500M worth of $TRUMP unlocked less than a week ago, which also kicked off a daily unlock of 492K tokens (~$5M) which will last for the next couple of years, and be INCREASED in July.

Enjoy your dinner though.

— Ben Armstrong (@BitrueOfficial) April 12, 2024

Indeed, TRUMP soared to $16.18 before tumbling to $13—a price move that some observers have likened to a classic rug pull.

TRUMP Price Prediction — Is It The Right Time To Buy?

Sidelined investors should proceed with caution while buying the dip. Prominent traders like Nebraskangooner, who went long on $TRUMP at $9, have already closed their positions after nearly 50% gains.

Sidelined investors should either wait for a successful retest of the $9 support or the $16 resistance before going long.

Why Solaxy Could Be The Best Crypto To Buy Now?

Solana meme coins are heating up at the start of the crypto bull market, much like last year.

While Fartcoin is cooling off following its explosive rally, Popcat, Bonk and Dogwifhat are gearing up for the next breakout.

New Solana meme coins are also in high demand, with Solaxy (SOLX) emerging as one of the standout choices for whales. The SOLX presale has already surpassed the $31 million milestone, a sign of high upside potential and community support.

“Take a trip in the Solaxy! ??31M Raised! ?”

Solaxy is the first prominent Solana Layer-2 scaling solution. While Solana is usually touted for its speed and low fees, it does struggle with scalability during heavy traffic, e.g., during broader meme coin rallies.

Solaxy’s ZK rollup-based scaling solution ensures low-latency transactions—instant finality and extremely low fees—even during high throughput. It also promises zero downtime and exponential scalability on both chains.

News data source: kdj.com

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