As of May 7, 2025, the Trump Coin ($TRUMP) continues to be a focal point in both the cryptocurrency market and U.S. political discourse. Here's the latest update:
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š Market Performance
Current Price: Approximately $11.00, stabilizing above its 50-day moving average of $10.50 after recent volatility.
Recent High: Peaked at $16.42 in late April, following an announcement that the top 220 holders would be invited to a White House Gala dinner.
Support Levels: Strong support observed near the 0.618 Fibonacci retracement level at $10.69.
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šļø Political and Regulatory Developments
Legislative Actions: Senate Democrats have introduced the End Crypto Corruption Act, aiming to prohibit U.S. federal officials and their families from investing in or endorsing digital assets. This move is largely in response to the Trump family's involvement in cryptocurrency ventures, including the TRUMP coin and the stablecoin USD1.
Ethical Concerns: The Trump family's crypto activities have raised ethical questions, especially after reports of a $2 billion investment deal involving their stablecoin USD1 and an Abu Dhabi firm.
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š¼ Financial Impact
Trading Fees: Entities affiliated with the Trump Organization have reportedly earned between $86ā100 million in trading fees from the TRUMP coin within two weeks of its launch.
Investor Profits: While a select few wallets have profited significantly, with only 58 wallets cashing out millions, over 764,000 holders are currently sitting on losses.
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š® Price Predictions
Short-Term Outlook: Analysts suggest that if bullish sentiment continues, TRUMP could breach the $12.15 mark and head toward $13.70.
Year-End Forecast: Projections indicate a potential high of $27.92 by the end of 2025, with an average trading value around $18.62, depending on market conditions and regulatory developments.