Pseudonymous researcher Sistine Research predicts Trump-themed Maga Memecoin TRUMP/USD to surge in the next 90 days based on past patterns bound to repeat.
What Happened: The researcher points out that the failed assassination attempt on the former President coincided with a free-fall of Ethereum ETH/USD and Bitcoin BTC/USD, thus stunting the rally. Similarly, the Presidential debate occurred during a 30-day downtrend for Ethereum, which offset another potential bullish catalyst. However, the Ethereum ETFs have “laid the groundwork for a massive ETH pump going into the election.”
The researcher warned of the "unbearable FOMO" that could overtake those who do not own any TRUMP as the election nears and ETH begins to pump. They further speculated that it would take almost no money to send TRUMP back to $10 – $12, after which momentum would take over.
Why It Matters: Sistine Research’s prediction is based on the recent groundwork laid by the Ethereum ETF, which is believed to trigger a massive ETH pump leading up to the election. The researcher noted that BTC pumped 91% in the ~60 days following its ETF launch, suggesting a similar trend for ETH and, in turn, TRUMP.
The meme coin announced that Gate.io has listed TRUMP and will commence trading on August 2.
Price Action: In the past 24 hours, TRUMP rallied 6.4% cushioning the past 30-day trading loss of 20.4%.
What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence with Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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