The TRUMP coin (TRUMP) price is surging during early Friday trade, having pumped to above $14.20 from under $11 in under 24 hours.
Per CoinMarketCap, that means the token has grained a massive 27% in the past 24 hours, amid a 325% surge to more than $2 billion in 24 hour trading volumes.
The announcement of a US/UK trade deal was the catalyst for the abrupt TRUMP coin price rally, which is mirrored by upside seen across crypto and global risk asset markets.
Investors appear to be hoping that this signals a thawing of trade tensions since President Trump began hitting major trade partners with tariffs in early April.
Positive technical developments also add to the idea that this latest TRUMP coin price rally could have legs.
The TRUMP coin price broke decisively out of a long-term downtrend in late April, with the rally really going into overdrive after the White House announced a private Gala diner for the top 220 token holders.
After peaking around $16.50, the TRUMP coin price subsequently fell back towards $10, but found strong support at its 50DMA.
That’s a strong sign that the bulls have regained control of this market.
Can the TRUMP Coin Price Rally to New Record Highs?
So does that mean a new rally back to, or beyond, record highs is on the cards?
Well, ahead of the private Gala event for TRUMP coin holders in the White House, scheduled for May 22, hype could continue rising.
Per an article from Bloomberg, 76% of the top holders vying for a spot at the diner table are non-US based buyers, given the wallets used exchanges not available to US residents.
As the competition to be in the top 220 spots rises, that could result in fresh TRUMP coin price upside in the near-term.
And that upside could be compounded if Bitcoin and the broader crypto market continues to see gains.
BTC burst back above $100,000 on Thursday and is eyeing a retest of its $108,000 record highs from earlier in the year.
Bitcoin $100.000
pic.twitter.com/XTs3nri6U2
— naiive (@naiivememe) May 8, 2025
In the world of meme coins, setting precise price targets is all but impossible. But the bulls should not rule out a near-term retest of mid-February highs around $23.50, or even a retest of the crypto’s record highs above $70.
That could mean gains of more than 5x for TRUMP holders in the coming weeks.
TRUMP – A Good Long-term Investment?
Proponents of Trump Coin as a long-term investment argue that its association with the Trump brand, amplified by Donald Trump’s global political influence and social media presence, could drive sustained demand among loyal supporters and speculative investors, potentially increasing its value over time.
Additionally, strategic partnerships, such as those with World Liberty Financial, which reported $500 million in token sales, and potential institutional investments from hedge funds or private equity firms, could enhance price stability and market adoption, positioning Trump Coin as a unique politically branded asset with cultural staying power.
Conversely, critics highlight the coin’s lack of inherent utility beyond speculative trading, noting that its value heavily relies on transient hype and Trump’s personal brand, which may wane or face regulatory scrutiny, as evidenced by concerns over conflicts of interest raised by ethics experts and congressional Democrats.
CNBC calls it “most open self-enrichment scheme in U.S. presidential history"
Soon, he will start dumping some tokens. Here's what's gonna happen
— Garland (@garlandflips) May 6, 2025
Furthermore, the concentrated ownership—80% held by Trump-affiliated entities—raises risks of market manipulation, and the coin’s volatility, with a peak at $75 followed by a drop to $11, underscores its susceptibility to rapid value swings, potentially deterring long-term investors.
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