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
The condition of the crypto market has improved considerably as April comes to an end. Meme coins are expected to start off strong in May as investors seem to be taking these joke tokens a lot more seriously, as seen with Housecoin (HOUSE).
BeInCrypto has analyzed three meme coins for investors to watch and how their interest is cementing in these tokens.
Zerebro (ZEREBRO)
Launch Date – November 2024
Total Circulating Supply – 999.95 Million ZEREBRO
Maximum Supply – 1 Billion ZEREBRO
Fully Diluted Valuation (FDV) – $60.01 Million
ZEREBRO has surged by 30% in the last 24 hours, trading at $0.061. The meme coin is showing strong bullish momentum and looks poised to continue its uptrend.
With the 50-day Exponential Moving Average (EMA) providing solid support, ZEREBRO demonstrates strong technical strength. This support level could help propel the altcoin toward the next major resistance at $0.086. If the altcoin continues to hold above the 50-day EMA, it may continue its upward trajectory with sustained investor interest.
However, profit-taking from investors could trigger a price correction, sending ZEREBRO lower. A drop below the $0.051 support level could lead to further declines toward $0.042. The recent gains could be wiped out if this support is breached, and the bullish outlook would be invalidated.
Pudgy Penguins (PENGU)
Launch Date – December 2024
Total Circulating Supply – 62.86 Billion PENGU
Maximum Supply – 88.88 Billion PENGU
Fully Diluted Valuation (FDV) – $943.05 Million
PENGU has surged by 25% since Sunday, trading at $0.0123, showing strong upward momentum. The meme coin is aiming to breach the $0.0147 resistance. For this to happen, continued strong support from investors is necessary. If momentum continues, PENGU could make its way through this key level to further gains.
A breakout above $0.0147 resistance could set PENGU on a path toward $0.0225, indicating the potential for continued upward movement in the coming days.
A failure to break the $0.0147 resistance would likely trigger a decline in PENGU’s price. If the altcoin falls below $0.0100, it could continue to slide toward the $0.0071 support level. Such a drop would invalidate the current bullish outlook and could lead to a prolonged downturn.
Small Cap Corner – Housecoin (HOUSE)
Launch Date – April 2025
Total Circulating Supply – 998.83 Million HOUSE
Maximum Supply – 998.83 Million HOUSE
Fully Diluted Valuation (FDV) – $66.90 Million
HOUSE has emerged as a surprising contender in the meme coin market, drawing attention with its humorous concept of investing in crypto rather than purchasing real estate. This fresh approach has resonated with investors, and many are actively supporting the token as it gains traction within the crypto community.
Over the past week, HOUSE has skyrocketed by 816%, currently trading at $0.0664. The altcoin is aiming to flip the $0.0666 level into support, a crucial step before targeting the $0.1000 resistance. If successful, this would set the stage for continued growth, potentially drawing more investors into the token.
However, if the novelty of the idea fades or investors decide to lock in profits, HOUSE could see a sharp decline. A fall below $0.0666 could lead to a drop to $0.0170, invalidating the current bullish outlook. Such a correction would likely signal the end of the altcoin’s recent uptrend.
The United States Securities and Exchange Commission (SEC) has postponed its decision on the Grayscale Spot Solana and Litecoin ETFs. The agency said more time is needed to assess whether these filings meet the necessary standards for investor protection and market transparency. This delay affects Grayscale’s efforts to list spot cryptocurrency ETFs that would be traded on the NYSE Arca exchange.
At the same time, the US SEC opened public comment periods for other crypto-related proposals, including BlackRock’s Bitcoin ETF redemption model.
US SEC Extends Review Period for Grayscale SOL and LTC ETFs
The US SEC announced that it will extend the review process for the proposed Grayscale Solana Trust. The agency is evaluating whether the fund complies with the Securities Exchange Act of 1934. If approved, the ETF would allow public trading of Solana-backed shares through traditional investment accounts.
The same decision applies to the Grayscale Litecoin Trust. The SEC said it needs additional time to determine if the Litecoin ETF filing meets the required legal and market conditions. Grayscale’s filings will now follow an extended timeline, which can include several stages before a final decision is reached.
According to the official filing, the commission has begun “proceedings to determine whether the proposed rule change should be approved or disapproved.” This language is standard for when the agency seeks further information or public input on complex filings.
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POPCAT has faced significant challenges since the beginning of February, as attempts at recovery have failed to materialize. Despite some price rallies, the meme coin has struggled to regain its losses, with a 48% drop weighing heavily on its performance.
While the altcoin is still attempting a recovery, a lack of strong support and market optimism is causing delays in any significant rebound. But the meme coin did have a key bullish moment this week.
POPCAT Needs Investors’ Backing
The Chaikin Money Flow (CMF) indicator has remained stuck below the zero line for the past three and a half months. This suggests that inflows into POPCAT have been weak since early December 2024, with little buying interest. The lack of conviction due to fear of losses from investors has contributed to a lack of momentum, keeping the meme coin from experiencing a recovery.
The weak CMF reading signals that investors are not pouring money into POPCAT, which is preventing a meaningful price increase. This has led to the coin’s struggle to maintain any positive price action, further delaying the recovery.
Technical indicators such as the Relative Strength Index (RSI) also reflect POPCAT’s struggle to find sustained momentum. The RSI has remained below the neutral line of 50.0 for the past three months, indicating weak bullish signals. This reinforces the notion that broader market cues are not supporting a strong recovery for the meme coin.
Without support from the broader market, POPCAT has found it difficult to break out of its current downtrend. Until the market improves, POPCAT is unlikely to break its bearish cycle.
Over the last four days, POPCAT has rallied nearly 20%, currently trading at $0.180. A key catalyst was Robinhood’s POPCAT listing on Thursday, which is expected to drive more investment into the asset and expose it to more investors.
The altcoin has bounced off the support level of $0.140 and is now under the resistance of $0.203. While this recent recovery is encouraging, it will face significant challenges in breaching the $0.203 barrier.
Given the weak market conditions and investor sentiment, POPCAT could struggle to break through the $0.203 resistance. It is more likely that the altcoin will consolidate within the range of $0.140 to $0.203, at least until stronger market cues emerge. This could delay any potential recovery further.
However, if market conditions and investor behavior improve, POPCAT may push past the $0.203 resistance. A successful breach of this level could see the altcoin test $0.238, invalidating the current bearish outlook. This would signal a shift in market sentiment and possibly set the stage for a more sustained recovery.
