Price Analytics: $TRUMP's Potential Correction and Future RallyPossible Rebranding of an Existing Token: A Strategic Collaboration with the President
The recent announcement of the MEXC:TRUMPUSDT cryptocurrency has ignited discussions about its origin and its sudden rise to fame. Market data suggests that $TRUMP might not be entirely new but a rebranded version of an existing token. Historical price charts from exchanges like Gate.io and MEXC reveal trading activity for a $TRUMP-named token as far back as March 2024, long before the President’s public endorsement.
Rebranding an existing token in collaboration with a high-profile figure like the President offers several advantages:
Instant Market Hype: Association with a well-known personality generates massive publicity, attracting retail and institutional investors.
Enhanced Trust and Legitimacy: A presidential collaboration can shift market perception, making the token appear more credible.
Reviving Dormant Projects: Tokens with limited traction can leverage rebranding to reignite interest and trading activity.
If the MEXC:TRUMPUSDT token is indeed a rebranded project, its association with the President has proven successful, as evidenced by its meteoric rise in value to $72 shortly after the announcement.
Current Analysis:
The MEXC:TRUMPUSDT token is currently trading at $72, experiencing a surge due to its high-profile launch. However, considering historical data and market patterns, a price correction to the $37–$40 range is likely. This range aligns with the previous all-time high (ATH) of $37–$38 recorded on March 5, 2024.
Short-Term Projection:
If the token revisits its previous ATH, this retesting could act as a strong support level. Historically, price corrections to significant levels often precede larger upward movements, as they confirm market confidence in these levels.
Long-Term Projection:
Assuming the token completes the #5 Wave of the Elliott Wave cycle, it could potentially surpass the $100 mark. The Elliott Wave theory suggests that the fifth wave is often driven by strong market sentiment and euphoria, fueled by both technical and fundamental catalysts.
Conclusion:
While the MEXC:TRUMPUSDT token's current momentum is undeniable, investors should anticipate a near-term correction to $37–$40 before a rally beyond $100. This projection combines historical data, technical analysis, and the hype surrounding its rebranding and presidential collaboration. However, as with any volatile asset, investors should exercise caution and conduct thorough due diligence.
