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Trump Coin Eyes 10% Gains Following $14.8M Spike in Foreign Purchases
By: coinchapter|2025/05/08 19:15:01
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On May 8, 2025, the TRUMP/USDT 4-hour chart on Binance formed a classic falling wedge pattern. A falling wedge is a bullish reversal formation marked by converging downward-sloping trendlines that indicate a weakening bearish momentum. The chart shows the TRUMP Coin broke above the upper resistance of the wedge near $11.70, closing at $12.13—up approximately 9.8% from the breakout level. If the falling wedge pattern confirms, the price may climb another 10%, targeting the $13.25 level shown in the projection. Meanwhile, the 50-period Exponential Moving Average (EMA) stands at $11.68 and now acts as a support. The Relative Strength Index (RSI), a momentum indicator, has surged to 64.27, suggesting strengthening buying pressure but not yet signaling overbought conditions. Volume also spiked during the breakout, reaching 270,000 TRUMP tokens traded, which adds credibility to the move. The upper target matches the height of the wedge measured from the highest to the lowest point before the breakout. If the TRUMP Coin holds above the EMA and confirms the breakout with continued volume and RSI momentum, the projected $13.25 resistance could be tested in the short term. Would you like a similar analysis for the daily chart? Meanwhile, Trump Coin Dinner Raises Ethics Questions The Trump Coin project offers top holders access to a private dinner with Donald Trump on May 22. This dinner is part of a VIP experience that includes a guided tour. To qualify, participants must hold a large number of Trump coins in their wallets. However, the organizers have not revealed the exact number of applicants or the identity of those selected. According to Bloomberg , more than half of the top 220 wallets eligible for the Trump Coin dinner use foreign exchanges. These platforms typically block US residents, raising concerns about non-citizen participation. The application also requires a background check and excludes users from countries on Know Your Customer (KYC) watchlists. Critics in Washington say the dinner appears to reward tokenholders with personal access, potentially turning digital assets into political influence tools. Democrats Target Trump Coin’s Foreign Links At the Same Time, Democratic lawmakers have questioned the foreign involvement in the Trump Coin. On May 7, several members of Congress said the token raises serious security and transparency issues. They pointed out that the Trump Coin ecosystem could offer overseas actors a way to gain access to a US presidential candidate through crypto investments. Lawmakers also raised concerns about the lack of clear rules governing such tokens. They asked the Federal Election Commission and the Department of Justice to look into the Trump Coin project. One senator described the setup as “selling influence through blockchain.” Despite these concerns, the Trump campaign has not issued a detailed response.
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