The official account of President Trump’s meme coin 'Trump Coin' announced on April 23 that it will invite the top 220 holders by coin holdings to dinner at Trump’s private club in Washington, D.C. on May 22, claiming participants will have the opportunity to 'hear Trump talk about the future of cryptocurrency up close.' Additionally, the top 25 investors by coin holdings will be invited to an exclusive Trump reception and a 'special edition' VIP tour.
This move is essentially an invitation for the Trump family to enter the White House on the condition of investing in its cryptocurrency project. The invitation states: 'Dine with President Trump and the TRUMP community! Tell the president how many TRUMP coins you have!'
As the news of the dinner invitation spread on social media, Trump's TRUMP coin surged 75% in a short time last night, and it currently has over 40% gains!
Interestingly, the TRUMP team reported today that Trump might not appear at the dinner, and the dinner may even be canceled. If Trump does not attend, a limited edition NFT will be given as consolation. However, this dinner will depend on the ranking of the coin holdings from April 23 to May 12.
Overall, the TRUMP team is likely to create new stories and produce a drama for hype. For us, hype brings hotspots, and hotspots create opportunities! We can seize these opportunities in a timely manner.
Regarding last night's news, Trump rose from 9 to 16, and the current price has adjusted back to around 12.
I believe there will definitely be space to take advantage of a wave during this period, and it will certainly happen before the 22nd of next month. Moreover, no matter which day it rises during this period, we should take action. We are only trading in waves, not for the long term, as there are still 800 million tokens waiting to be unlocked!
The current price is around 12, and we can build positions in batches. We will look at the situation before the 22nd of next month, and of course, I will remind everyone in a timely manner!
Of course, including the previously recommended CAKE, the current price compared to the recommended price of 1.9 has a bit of profit. We can observe it a little longer these days; if it doesn’t work out, we can withdraw!
Finally, let's talk about the overall market situation.
Overall, yesterday the price of Bitcoin bounced back to $94,700, gradually moving out of the left-side downward channel. Next, it may gradually need to find pullback opportunities to increase positions; the overall mindset may need to start shifting gradually towards bullish thinking!
From the perspective of the overall market capitalization of the cryptocurrency market, it has now rebounded to around $3 trillion. At the same time, Bitcoin's market capitalization has reached a relative high of 64.6% since February 2021.
Bitcoin's dominance exceeding 64% also means that altcoins are still facing an overall liquidity shortage problem.
Although theoretically, based on past cycle experiences, when Bitcoin reaches a certain high percentage (around 65%), it often indicates the possibility of a new round of altcoin markets (for those interested in the issues facing this round of altcoin season, you can search and review my historical articles on altcoin seasons).
However, in the current overall market environment, if you want to continue to seize possible altcoin opportunities, it is best to focus on short-term waves, set appropriate take-profit and stop-loss orders, and ensure that you control your position ratio well to avoid falling into a new quagmire with altcoins.
That's all for today. I am July, and everyone can follow the daily article updates!
The lone traveler is swift, while the many travelers go far! Everyone is welcome to discuss and exchange market insights!
