The Official Trump (TRUMP) memecoin surged by 52% on April 23 following a high-profile announcement: former U.S. President Donald Trump is reportedly hosting an exclusive in-person dinner for the top tokenholders.
This unexpected move has reignited bullish sentiment in parts of the crypto community. Some even see it as a sign of a broader market revival, especially with Bitcoin (BTC) bouncing above $93,000. However, critics are raising red flags over TRUMP's long-term sustainability.
Tokenomics and Skepticism
Despite the rally, the token’s fundamentals raise questions. TRUMP launched above $75 but quickly lost steam due to a high concentration of token supply — 80% reportedly held by founders and Trump-affiliated entities. Its current $2.6 billion market cap dwarfs several utility-driven projects like Arbitrum (ARB), Jupiter (JUP), and Maker (MKR), all of which trade below $1.6 billion and offer DeFi value.
Trading Volume and Market Hype
TRUMP is among the top 10 in crypto trading activity, with $3.84 billion in daily volume. Futures open interest sits at $700 million — higher than LINK, LTC, and DOT. Yet, strong derivatives action doesn’t equal investor confidence, as long and short positions balance each other out.
The Road Ahead
While the Trump-endorsed dinner may fuel short-term hype, sustained growth will depend on easing investor fears around token unlocks and long-term utility. That said, comparisons to Shiba Inu (SHIB), which holds an $8 billion cap with no real utility, suggest TRUMP could potentially hit the $30 mark — if hype holds.
Disclaimer:
This content is for informational purposes only and should not be considered financial advice.
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_Rashid Sardar _
