Trump and Melania’s Meme Coins Overview
The world of cryptocurrency is no stranger to innovation and eccentricity, with meme coins frequently taking center stage as unique and volatile assets. Recently, meme coins associated with public figures like former President Donald Trump and Melania Trump have gained attention, blending political branding with blockchain-based digital assets. As these coins capture the fascination of investors and enthusiasts alike, the question arises: can technical analysis, specifically Elliott Wave Theory, provide insights into their market behavior?
TRUMP/USDT
Current price: $41.90
Market cap: $8.37B
Volume (24h): $15.74B
Donald Trump`s meme coin experienced immense volatility, which continues on all CEX exchanges, providing opportunities for both short-term and long-term traders. Despite its very short trading history, technical analysis can still give us a roadmap of possible scenarios of price dynamics.
On the hourly chart of TRUMP/USDT, starting on January 18th, the price formed a bullish impulse, reaching highs of $80.04 per coin. That movement can be marked as an A wave in the bullish zigzag ABC, as the subwave structure of wave A has only three waves. Retracement to 0.78 Fibo level of wave A, with high probability, has completed B wave, creating a setup for further growth in C wave with minimum targets at $85 (see Scr.). Price breakdown of $30.304 (low of wave B) cancels this scenario with Elliott waves readjustment needed.
MELANIA/USDT
Current price: $3.97
Market cap: $762.98M
Volume (24h): $688.68M
According to our Elliott waves analysis, Donald Trump`s wife meme coin has a more pessimistic prospect. After its listing on major exchanges, the price was mostl in a downward spiral. Even without analyzing trading history with enough trading periods closed, we can still see a possible bearish 1–5 structure forming on the 30M chart. Continuation of a downward trend is most probable with key targets at $2.080 per coin.
What is next?
Seeing a trend of meme coin emission for the Trump family and his members. Possibly, we can expect a few more meme coins on their way to the crypto world. Or this will be the end of his crypto journey closing the door with him and his wife. Do you think that there will be more coins on its wave? Perhaps, only time will tell.