Key Takeaways
What are the two primary reasons for the recent surge in TRUMP’s price?
Speculation over the Republic acquisition and renewed, aggressive demand from whales and retail traders.
What is the short-term resistance level for the TRUMP memecoin?
The memecoin is targeting the next resistance level at $9.9, where the EMA200 currently sits.
After weeks of sideways movement, the Official Trump [TRUMP] memecoin’s upward momentum appeared to be strengthening again.
As of this writing, TRUMP was trading at $8.308, up 7.25% over the past 24 hours. Over the same period, the memecoin’s volume surged 37.86% to $2.61 billion, reflecting steady capital flow.
But why is TRUMP up and running again?
TRUMP’s issuer to acquire Republic
Significantly, The Official Trump memecoin rallied, partly driven by the rising speculation over the Republic acquisition deal.
According to Bloomberg, Fight Fight Fight LLC, the TRUMP memecoin issuer, is in talks to acquire crowdfunding platform Republic.
If the acquisition deal goes through, the memecoin could see expanded use cases in startup fundraising and payment applications.
Previously, Republic has promoted more than 3,000 crowdfunding campaigns and has actively engaged investors, both retail and accredited.
Renewed demand from whales
After TRUMP signaled a potential breakout from the recent range, large entities jumped into the market to accumulate.
According to Lookonchain, a whale created wallets, bought TRUMP on the Spot market, and took a long position.
This whale spent 5,346 SOL worth $1.07 million and bought 165,401 TRUMP worth $1.4 million. Currently, these holdings have $335k in unrealized profit.
Source: Lookonchain
At the same time, the whale went long on Hyperliquid [HYPE]; it deposited $485,669k and used max leverage to long 1.13 million TRUMP for $9.5 million.
At press time, the whale’s positions were up $1.18 million in unrealized gains. When whales make such moves, it reflects directional conviction with real and leveraged capital.
As such, the whale expects prices to rise further and is willing to aggressively back that market view, a clear bullish sign.
Retail accumulating too
Besides returning whales, retail traders have dominated the market for five consecutive days. Per Coinalyze, TRUMP recorded 33.26 million buy volume compared to 30 million in sell volume over the past day.
Source: Coinalyze
As a result, the memecoin recorded a positive Buy Sell Delta of 3.26 million, a clear sign of aggressive spot accumulation.
Furthermore, exchange activities also echoed the trend. According to CoinGlass, TRUMP’s Spot Netflow turned negative for the first time in nine days.
Source: CoinGlass
At press time, Netflow was -$7.57 million, indicating increased outflows. Often, when buyers dominate the market, it causes a sustained upward pressure, a precursor to higher prices.
Can the momentum hold?
According to AMBCrypto, TRUMP rallied as Fight Fight Fight LLC sought to acquire Republic, while the memecoin saw renewed demand from whales and retail.
As a result, TRUMP’s Sequential Pattern Strength (SPS) surged to 50, edging into the bullish zone, indicating total buyer dominance.
Source: TradingView
Such a spike in this indicator reflects the strength of the trend and signals potential continuation. Therefore, if demand holds, TRUMP will make more gains on his price charts.
As such, the trend continuation will see TRUMP target the next resistance at $9.9, where EMA200 currently sits. However, if momentum slows as sellers take positions, TRUMP will find support at the EMA50 at $7.2.
