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Why Is TRUMP Coin Going Up Today?
The Trump memecoin has been making headlines after it skyrocketed over 60% in a single day. The surge took the coin past $16, with more than 58% rise after it was announced that President Donald Trump would be hosting an exclusive dinner for top $220 TRUMP coin holders. This sudden and remarkable increase of 30% has sparked excitement within the community.
It’s worth noting that the coin had previously dropped by 88%, only to see a strong recovery yesterday, currently trading at $12.22. The market cap is now at $2.58 billion, with a trading volume surging to $1.41 billion. This sudden surge in liquidity and hype is undeniable.
The excitement around this dinner announcement is fueled by the recent developments within Trump Media. Analyst Greg Miller has opened up about the potential key developments such as upcoming crypto ETFs from Crypto.com and Yorkville, legal backing from top firm Davis Polk, and the launch of a USD1 stablecoin backed by U.S. Treasuries.
However, some in the community have expressed concerns over the potential for conflicts of interest given Trump’s family involvement in cryptocurrency. Critics, such as Tony Carrk of Accountable.US, label this planned dinner with $TRUMP coin holders as “presidential grifting,” fearing it could lead to special interests influencing the administration.
While some see TRUMP as a lasting political phenomenon, others view it as a risky meme coin headed for a correction. If meme coin interest revives and TRUMP gains political traction, analysts predict it could hit $70-$100 by late 2025. On the other hand, without a broader market recovery and ongoing token unlocks, some warn that the price could drop to $5 or lower.
The TRUMP memecoin’s surge today raises more questions than answers.
Source: https://coinpedia.org/news/why-is-trump-coin-going-up-today/
