Justin Sun Drops $100M Bomb: Tron Founder to Buy Official Trump Meme NFT – Will $TRUMP Skyrocket?
Crypto's showman-in-chief strikes again. Justin Sun just announced plans to acquire the official Trump meme NFT for a staggering $100 million – sending shockwaves through the meme coin markets.
The $TRUMP token (because of course there's a token) immediately pumped on the news. But here's the real question: Is this a genius alpha play or just another billionaire vanity project dressed up as 'utility'?
Sun's track record suggests both. The Tron founder has perfected the art of market-moving announcements – remember the $4.6 million lunch with Warren Buffett? Now he's betting seven figures that meme politics is the next frontier of Web3.
Market reaction was predictably frenetic. $TRUMP volumes spiked 300% in minutes as degenerate traders front-ran the news. Because nothing says 'sound investment strategy' like chasing a token whose value proposition is literally a JPEG of a 2016 campaign meme.
Will this move actually create lasting value? In crypto-land, that's the wrong question. The right question is: How long until the next whale dumps their bags on retail?
Justin Sun, a serial entrepreneur with a keen focus on blockchain technology and the web3 space, has announced a strategic investment in Donald Trump-backed memecoin dubbed OFFICIAL TRUMP ($TRUMP). The Tron (TRX) founder announced he is committed to purchasing $TRUMP tokens worth $100 million in the near term.
The announcement follows a recent move by the Official Trump memecoin team to bridge $TRUMP into the Tron blockchain through the LayerZero chain. According to Sun, the $100 million investment in TRUMP memecoin highlights Tron’s commitment to partner with vibrant crypto communities.
We are committed to buying $100M of $TRUMP! Together, $TRUMP and #TRON are the future of Crypto.
This move highlights our belief in collaborating across ecosystems to grow the crypto landscape with communities such as @GetTrumpMemes.$TRUMP on #TRON is the currency of #MAGA!…
$TRUMP Price Ready for Bullish Breakout
The $TRUMP memecoin has grown to a market cap of about $1.8 billion and a fully diluted valuation of around $9 billion. Following the announcement, TRUMP price gained 5 percent on Wednesday to trade around $9.01 during the mid-North American trading session.
The sudden $TRUMP price gain today coincided with the BTC price rally towards a new all-time high of about $112k. As a result, the $TRUMP price is well-positioned to rally in the coming weeks, especially if the BTC price consistently closes above $112k.
From a technical analysis standpoint, the TRUMP price has been forming a double bottom coupled with bullish divergence of the daily Relative Strength Index (RSI). With the memecoin having retested the recent breakout of a falling logarithmic trend, a potential parabolic rally towards its all-time high has a high chance.
