The intersection of politics and cryptocurrency is becoming increasingly evident, with Arthur Hayes, former CEO of BitMEX, forecasting a potential rally for the TRUMP meme coin. Hayes suggests that political insiders could play a crucial role in boosting its price, making it not just a speculative asset but a political tool.
Political Influence and Market Momentum
Meme coins have long been driven by social trends, but Hayes believes TRUMP could go beyond mere hype, particularly as political campaigns look for alternative fundraising methods. Given the increasing mainstream discussion around crypto regulations and adoption, the speculation that even Donald Trump himself might be monitoring the token’s price adds another layer of intrigue.
TRUMP has already outperformed many other meme coins, recently surging 14.01% to $19.31, with a staggering $2.25 billion in daily trading volume. Its market capitalization now exceeds $3.28 billion, securing its place among the top meme assets.
Technical Outlook: More Room to Run?
From a technical perspective, TRUMP has reclaimed its 20-day EMA at $16.91, a potential indicator of renewed bullish momentum. Analysts suggest that as long as the price holds above $16, it remains in a healthy uptrend, with the next resistance levels at $18.50 and $21.
The MACD indicator remains positive, showing that buyers still dominate, while the Relative Strength Index (RSI) sits at 62.73, signaling that the token is not yet overbought. If TRUMP breaks past key resistance levels, it could attract even more speculative traders.
Should You Buy or Sell?
The speculation surrounding TRUMP coin is fueled not just by technical factors but by the broader narrative of political influence in crypto. If political figures or organizations begin leveraging meme coins as a form of fundraising, TRUMP could see further upside. However, its volatility and reliance on external events make it a risky asset for investors looking for stability.
For traders, TRUMP’s recent momentum might present short-term opportunities, but long-term holders should remain cautious about the coin’s dependence on market sentiment and political cycles.
⚠️ This article is for informational purposes only and does not constitute financial or investment advice.
