Trump Coin Sees $4 Billion Volume Flood In – Is a Parabolic Move Coming for Meme Coins?

Trump Coin has rallied by 8% today, with its move to $15 coming as the cryptocurrency market as a whole recovers by 5% in the past 24 hours.

TRUMP is now flat in the past week but remains down by 34% in the last 30 days and by 79% since hitting an all-time high of $73.43 on January 19.

Despite these declines, the meme token’s volume has ballooned to $4 billion in the past few days, rising up from $1 billion after Donald Trump himself pumped the crypto market by repeating his support for a federal crypto reserve.

Assuming that such a reserve does eventually become a reality, this could set up Trump Coin for further big gains in the coming months.

Trump Coin Sees $4 Billion Volume Flood In – Is a Parabolic Move Coming for Meme Coins?

Looking at Trump Coin’s chart today, it shows the alt regaining some momentum after a tough few weeks.

Probably the most significant feature of the chart below is that the 30-period average (orange) climbed over the 200-period average (blue) yesterday, forming a golden cross that usually signals a breakout.

TRUMP’s relative strength index (purple) is also reflecting new momentum, having risen from 25 at the end of February to just over 80 last night.

It has since fallen down, but the fact that it remains at around 50 would suggest there’s still life in Trump Coin’s rally today.

This view also comes from the significant increase in TRUMP’s trading volume, which also suggests strong demand for the token.

It’s arguable that Donald Trump’s posts in support of a crypto reserve, and in support of various alts (including XRP, SOL and ADA), is bullish for Trump Coin itself.