Justin Sun, a serial entrepreneur with a sharp focus on blockchain technology and the Web3 room, has announced a strategic investment in Donald Trump-supported Memecoin called Official Trump ($ Trump). The founder of Tron (TRX) has announced that he is committed to buying $ Trump tokens worth $ 100 million in the short term.
The announcement follows a recent step from the official Trump Memecoin team to bridge $ Trump in the Tron Blockchain by the Layerzero chain. According to Sun, the investment of $ 100 million in Trump Memecoin emphasizes the dedication of Tron to collaborate with lively crypto communities.
$ Trump price ready for bullish breakout
The $ Trump Memecoin has grown into a market capitalization of around $ 1.8 billion and a completely diluted valuation of around $ 9 billion. After the announcement, Trump Price won 5 percent on Wednesday to trade around $ 9.01 during the American trade session of Mid-North.
The sudden $ Trump prize win today coincided with the BTC price rally to a new highest point of around $ 112k. As a result, the $ Trump price is well positioned to gather in the coming weeks, especially if the BTC price consistently closes above $ 112k.
From the point of view of technical analysis, the Trump price forms a double soil in combination with bullish divergence of the Daily Relative Strength Index (RSI). With the Memecoin who has re-tested the recent outbreak of a falling logarithmic trend, a potential parabolic rally to his all-time high has a big chance.