Trump Coin price slipped 4.3% as regulatory heat and political protests escalate around the US President’s Dinner hosting top investors in the memecoin. TRUMP Token Hits $2.5B as Justin Sun Joins Trump Dinner Amid Protests and Regulatory Backlash Official TRUMP token price tumbled 4.3% in the last 24 hours, as Donald Trump hosted a private dinner attended by TRON’s Justin Sun and ex-NBA star Lamar Odom. According to Coingecko data, the TRUMP token now trades below $13 market, with its total valuation hovering precariously above the $2.5 billion market at press time. TRUMP Token Price Action | Source: Coingecko The Trump memecoin gala, held May 23 at Trump National Golf Club in Washinton, quickly became politically charged as over 100 demonstrators protested outside, chanting against crypto’s growing influence in U.S. politics. Ahead of the event, TRUMP price rose to $13.55, before pulling back 4.3% to $12.91 in the last 24… Read More at Coingape.com
As the Dogecoin price consolidates, there are rising possibility that it may short-squeeze in the near term. An analyst has identified a unique chart pattern and boosted his target to $1.1, up by 510% from the current level. Further, there are signs that whales have accumulated the coin slowly.
Crypto Analyst Sees the Dogecoin Price Soaring to $1.1
Dogecoin price today trades at $0.18, a level it has been stuck at in the past few weeks. While the coin is not showing any bullish trend on the short-term charts, an analyst believes that it is in a long-term bull run that could see it cross the psychological point at $1, and then hit $1.1 eventually.
The analyst cited the weekly chart below and drew two trendlines. The lower line connects the lower highs since October 2023. Likewise, the upper side of his chart links the key levels at $0.23 and $0.50.
He then identified the first wave between October 2022 and the highest swing in April 2024. This wave was about 290% surge. The second wave ran from its September low and its December 2024 high.
After dropping to the lower side of the giant megaphone pattern, the analyst predicts that the next pump will push it to $1.1. He expects this DOGE price prediction to push it to happen in September this year.
Dogecoin Price Forecast
Whales are Accumulating DOGE
The bullish Dogecoin price outlook likely explains why whales have continued to accumulate it in the past few months. In an X post on May 1, Ali Martinez noted that whales had bought 100 million DOGE in the last week alone. At the current price, these coins are worth over $18 million.
A deeper dive shows that whales have been accumulating it since March 7. At the time, the number of coins held by whales with between 1 million and 10 million coins jumped from 10.3 billion to the current 10.59 billion or 290 million coins. Whale purchases is seen as a bullish signal in crypto market analysis.
DOGE Whales Are Buying
DOGE Price Forecast: Inverse Head and Shoulders Forms
The short-term DOGE price forecast is also bullish as it has slowly formed an inverse head and shoulders pattern on the eight-hour chart. Its head is at the April low of $0.1305, and it has a slanted shoulder.
The coin has also moved above the 50-period moving average, providing strong support. Therefore, the most likely Dogecoin forecast is where it surges, potentially to the next point at $0.2087, which is about 15% above the current level. Crossing that level will bring its next target at $0.2420, the highest level on March 2.
Dogecoin Price Chart
A drop below the right shoulder at $0.1513 will invalidate the bullish outlook, and point to further downside at $0.12.
The crypto market concluded yet another week, primarily sparking investor optimism with recovering price trajectories. Bitcoin (BTC) price recovered from a $76K low to reach $84K right ahead of the U.S. FOMC next week. Whereas, major-league altcoins also mimicked price gains. The global cryptocurrency market cap again embarked upon a trajectory towards the $3 trillion mark as the week comes to an end.
Mentioned below are some of the top crypto market updates reported by CoinGape Media over the past week.
Crypto Market: Bitcoin Advancements This Week
The flagship crypto has witnessed significant developments over the past seven days, keeping investors optimistic despite price turbulence. Notably, global financial services firm Cantor Fitzgerald launched a $2 billion Bitcoin financing business, partnering with Anchorage Digital and Copper for secure institutional access.
On the other hand, Cathie Wood’s Ark Invest expanded its Bitcoin holdings, accumulating 997 BTC worth $80 million via Coinbase this week.
Also, despite the recent market turmoil, 95% of investors in the U.S. spot Bitcoin ETFs continue to hold onto their holdings. As a result, market watchers continue weighing optimism over long-term price prospects.
Moreover, Deutsche Boerse’s post-trade unit Clearstream plans to launch Bitcoin & Ethereum custody services by the end of this year. Mentioned above are the top crypto market updates orbiting Bitcoin over the past week.
Are Prices Bracing For Macro Events?
Meanwhile, the broader market shows a recovery-like trend ahead of the U.S. FOMC next week. Set to occur on March 19, the monetary policymaking decision remains much eyed by investors globally.
Market-wide expectations of unchanged interest rates by the U.S. Fed prevail at the moment. Also, the latest U.S. CPI data indicated cooling inflation, offering some support to risk assets. In turn, traders and investors speculate whether a price recovery is possible after the turmoil caused by Donald Trump’s tariff saga.
Global markets, including crypto, took severe heat previously, although recent price actions signal that a recovery and bull cycle continuation might be on the horizon.
