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TRUMP Meme Coin Set For A Revival? Analyst Forecasts 700% Increase To $78 | Bitcoinist.com
TRUMP Meme Coin Nearing The Timeline For Another Surge
In an analysis, crypto analyst Master Ananda pointed out that the TRUMP meme coin could benefit from an established trend among altcoins that have often pointed to a recovery. This trend comes after an altcoin has suffered a wave of decline and finally puts in a bottom. Once this is done, then there is nowhere but up for the meme count to go, which could benefit the TRUMP token.
Related Reading: Pundit Reveals What Will Happen When XRP Price Hits $100 And $1,000Counting back the days, the analyst explains that the TRUMPUSDT had hit a bottom back in April. From there, it has been over 131 days since the bottom. For altcoins, there is usually an 8-10 months average between hitting a bottom and producing a strong bullish wave. With its current count, the TRUMP meme coin has already completed 4 months and counting, meaning that it is getting close to a possible reversal.
Expanding on the 8-10 month timeframe, Master Ananda pointed out that the wave is not instant and that there is usually a 2-month buildup toward the recovery. But once it begins, it is possible for the bullish wave to last between 1-3 months before hitting a peak. This brings it to around five months of total price action before it’s completed.
How High Can Price Go?
Looking at the fact that altcoins can rally by more than 300% during times like these, the crypto analyst expects no less for the TRUMP meme coin. The chart shows that after a possible bottom, the bullish wave could begin and push toward its previous peaks.
Related Reading: Ethereum Falls Behind Solana In Major Metric, Is Altcoin Season At Risk?The top of the bullish zone is placed at $78, and taking the current price into account, it would mean an over 700% increase in the meme coin’s price. “If you are ready to wait 3 months, it doesn’t matter what is happening short-term; what matters is the long-term results,” the analyst stated.