In the past 24 hours, OFFICIAL TRUMP (TRUMP) surged 6.62%, outpacing its more modest gains over the past week (+5.12%) and month (+5.48%). This uptick appears to be fueled by a confluence of regulatory optimism, favorable technical signals, and shifting dynamics within the memecoin ecosystem.
A major catalyst emerged on January 13, when the Senate Banking Committee advanced a bipartisan bill aimed at establishing a clearer regulatory framework for crypto assets—particularly stablecoins and exchange operations. While the proposal still faces opposition from some Democratic lawmakers, it notably includes language that legitimizes crypto-based rewards programs, a feature directly relevant to tokens like TRUMP. The market responded swiftly: TRUMP’s trading volume spiked by 40% to $262 million, reflecting renewed confidence among traders betting on a more hospitable legal environment. With the final wording of the bill expected by January 18, any weakening of the rewards provisions could quickly reverse this momentum.
On the technical front, TRUMP has broken through a key resistance level—the 23.6% Fibonacci retracement at $5.45—accompanied by a positive shift in the MACD histogram (+0.0705), its first bullish signal in two weeks. The Relative Strength Index (RSI) sits at 60.99, suggesting room for further upside before entering overbought territory. Price action has also cleared the $5.56 pivot, drawing in technical traders. However, significant resistance remains ahead at the 200-day exponential moving average near $7.52—a level TRUMP still trails by 27%. A sustained close above $5.94, the 127.2% Fibonacci extension, could open the path toward $6.27.
Meanwhile, the broader memecoin landscape has undergone a sudden reshuffling. The dramatic implosion of Eric Adams’ NYC token—which plummeted 81% in just 30 minutes on January 12—sent speculative capital fleeing toward more established political-themed tokens. TRUMP, along with MELANIA (+7%), captured much of this redirected interest, benefiting from reduced competition even as the overall memecoin market cap languishes 61% below its 2025 peak at just $47 billion. Retail enthusiasm, meanwhile, continues migrating toward prediction markets and NFTs, underscoring the fragility of memecoin demand.
Looking ahead, TRUMP faces a pivotal test. On January 18, a team unlock event will release $270 million worth of tokens—equivalent to 25% of the current circulating supply. This potential sell pressure coincides with the deadline for the Senate bill’s final language, creating a dual-risk scenario. If legislative progress stalls or unlocks flood exchanges, the $5.45 support level will be critical. Market participants are already monitoring on-chain exchange inflow data for early signs of distribution, bracing for volatility in what remains a highly speculative corner of the crypto market.
Source:: TRUMP Token Rallies on Regulatory Hope and Memecoin Shakeout