The TRUMP coin (TRUMP) surged in early Friday trading, rising from below $11 to over $14.20 in less than 24 hours.
According to CoinMarketCap, this means that the token has seen a strong growth of up to 27% in the past 24 hours, amidst a 325% increase in trading volume to over $2 billion.
The announcement of the U.S.-UK trade agreement served as a catalyst for the sudden price surge of TRUMP coin, reflected through the momentum in the cryptocurrency market and global risk assets.
Investors appear to be hoping that this signals a thaw in trade tensions since President Trump began imposing tariffs on major trading partners in early April.
Positive technical developments further reinforce the idea that this latest rally of TRUMP coin could continue.
The price of TRUMP coin broke out of a long-term downtrend at the end of April, with a truly strong uptrend following the White House's announcement of a private gala for the top 220 holders of this coin.
After peaking at around $16.50, the price of TRUMP coin subsequently fell to $10 but found strong support at the 50DMA.
Could TRUMP prices rise to a new all-time high?
So does that mean a new rally will return to or exceed the ongoing all-time highs?
Yes, ahead of the private gala for TRUMP coin owners at the White House, scheduled for May 22, the hype could continue to build.
According to an article from Bloomberg, 76% of the largest cryptocurrency holders competing for a seat at the dinner table are non-U.S. buyers, as wallets used on exchanges are not meant for U.S. residents.
As the competition to break into the top 220 intensifies, this could lead to a strong price increase for TRUMP coin in the near future.
And that growth potential could be even greater if Bitcoin and the cryptocurrency market in general continue to see growth.
BTC has rebounded to over $100,000 on Thursday and is aiming to retest the all-time high of $108,000 from earlier this year.
In the world of meme coins, setting a precise price target is nearly impossible. However, buyers should not rule out the possibility of retesting the mid-February highs of around $23.50 in the near term, or even retesting the cryptocurrency's all-time high of over $70.
That could mean that TRUMP holders will see over a 5-fold increase in the coming weeks.
$TRUMP – A Good Long-term Investment?
Supporters of Trump Coin as a long-term investment argue that its connection to the Trump brand, amplified by global political influence and Donald Trump's social media presence, could drive sustainable demand among loyal supporters and speculative investors, thereby potentially increasing its value over time.
Additionally, strategic partnerships, such as the one with World Liberty Financial, which reported token sales of $500 million, and potential investments from hedge funds or private equity firms, could bolster price stability and market acceptance, positioning Trump Coin as a uniquely branded political asset with sustainable cultural power.
Conversely, critics emphasize that this currency lacks inherent utility beyond speculative trading, noting that its value heavily depends on fleeting hype and Trump’s personal brand, which could weaken or face regulatory scrutiny, evidenced by concerns about conflicts of interest raised by ethics experts and Congressional Democrats.
Moreover, concentrated ownership - 80% held by entities linked to Trump - increases the risk of market manipulation and volatility of this currency, with a peak of $75 before dropping to $11, highlighting its susceptibility to rapid value changes, potentially deterring long-term investors.