The post OFFICIAL TRUMP surges to $35 – Winners, whales, and warning signs for you appeared on BitcoinEthereumNews.com.

Token’s team controls 85% of supply with 800M tokens locked, while trading volume surged by 1,400% Altcoin become the fifth-largest memecoin with over $7 billion market cap. The OFFICIAL TRUMP memecoin’s launch on Solana has been a spectacle of profits, speculation, and controversy. While the token’s meteoric rise has drawn immense attention, recent whale activity and insider control of the supply are raising red flags about the project’s sustainability. OFFICIAL TRUMP price analysis: The rally and the risks Following its launch, OFFICIAL TRUMP memecoin has seen a dramatic price rally, soaring from $10 to $35—An astonishing 250% gain within days. A detailed candlestick chart analysis revealed distinct phases in this price surge. It seemed to be characterized by steady green candles, signaling gradual accumulation by early adopters and speculators. Notably, trading volumes during this phase were moderate but steadily increasing – A sign of growing market interest. At the time of writing, the trading volume exceeded $11 billion, representing an extraordinary 1,400% hike in the last 24 hours. Source: CoinMarketCap Upon hitting the $25-mark, the memecoin entered a brief consolidation phase, marked by alternating green and red candles. This hinted at a temporary tug-of-war between buyers and sellers. Subsequently, OFFICIAL TRUMP broke out in a significant surge from $28 to $35, with large green candles supported by significantly higher volumes. This breakout highlighted the renewed speculative enthusiasm, primarily driven by social media hype and FOMO (Fear of Missing Out). However, the rally has been accompanied by notable volatility. In fact, the chart revealed long wicks on both sides of several candles, indicating rapid intraday fluctuations. Such volatility is characteristic of memecoins, more evidence of the speculative nature of OFFICIAL TRUMP’s trading activity. Whale activity and dumping risks That’s not all though as recent on-chain data revealed significant profit-taking by whales. Most…

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Filed under: News - @ January 19, 2025 4:20 pm