Massive Surge After Trump Dinner Invite Sparks Frenzy
Official Trump [TRUMP], the memecoin branded after the former U.S. President, exploded by 75.2% on April 23 following the announcement of a highly exclusive event. According to the project, the top 220 TRUMP holders will be invited to a private dinner with Donald Trump on May 22. Even more exclusive, the top 25 wallets will get access to a VIP reception with the president himself. The announcement triggered a wave of speculation, pushing TRUMP’s price significantly higher.
Before this event-driven rally, the memecoin had been languishing, down over 80% from its January 20 daily open price of $46.5. Post-pump, it now trades 71% below that level—still deep in the red, but clearly in recovery mode.
Trading Volume and OBV Signal Renewed Momentum
Prior to the invitation news, TRUMP had a weak market profile. The On-Balance Volume (OBV) indicator showed a persistent downtrend from March 25 through April 22, reflecting lackluster interest from traders.
That changed quickly. Within 36 hours of the dinner announcement, trading volume surged, driving OBV to new highs—surpassing even its peak in March. This spike in volume has shifted sentiment sharply in favor of bulls, marking a clear break from the previous bearish structure.
Key Levels and Resistance Zones to Watch Closely for TRUMP
Technical analysis now shows a bullish structure forming for TRUMP. Earlier resistance levels at $8.7 and $12.2 have been broken, signaling positive momentum. However, the real tests lie ahead. The 61.8% and 78.6% Fibonacci retracement levels, set at $14.6 and $16 respectively, have proven difficult for bulls to crack.
These zones are now acting as short-term ceilings. For TRUMP to confirm a true breakout, bulls must push beyond these resistance points. Meanwhile, support at $12.2, $10.7, and the psychological $10 level will be crucial for maintaining upward pressure.
Open Interest Doubles as Speculation Returns
The market’s reaction hasn’t just been about price—it’s also been about positioning. Open Interest (OI) on Binance ballooned from $97 million on April 21 to $207.9 million by April 24. That’s a more than 100% jump in just three days, reflecting a surge in speculative trading.
This spike in OI, paired with the price rally, suggests that traders are betting heavily on continued short-term gains, at least until the dinner event in late May. It remains to be seen whether this hype can translate into sustained growth.
Conclusion: Bulls Hold Control, But $16 Is the Real Battle
The TRUMP memecoin’s recent run has flipped the script on what was once a sluggish and bearish trend. While excitement surrounding the dinner invite has injected life into the token, the upcoming weeks will determine whether this is a temporary spike or a more significant reversal.
For now, buyers remain in control—but all eyes are on the $14.6 and $16 levels. Clearing these could pave the way for another leg up, while failure to do so may invite profit-taking and a potential pullback. As always, speculative trades like this come with risk, and investors should proceed with caution.
