Altcoin
Trump Meme Coin Mania: Market Overrun By 700+ Clones
When Donald Trump dabbled in memecoins last month, it set off a floodgate of imitators in the cryptocurrency market. With the re-elected US president’s entry into the cryptocurrency market, there has been a dramatic increase in the number of opportunistic tokens.
According to a Financial Times report, more than 700 imitators launched their currencies in the span of three weeks. A tangled web of tokens, from the audacious to the ridiculous, has landed in Trump’s digital wallet, leaving investors bewildered.
Copycats And Confusion: The Name Game In Crypto
The numbers paint a startling picture of opportunism in action. Among the 736 different memecoins analyzed, 192 brazenly incorporate the Trump family name, with 167 being direct copycats.
The audacity doesn’t stop there – 67 tokens have slapped the word “official” in their names, despite having no connection to the president. Some creators have even gone as far as minting coins named after Trump’s children, with 30 tokens featuring Barron’s name, 26 referencing Ivanka, and 10 mentioning Eric, FT disclosed.
Trump Coin: The Numbers Behind The Digital Deception
In the hazy world of cryptocurrency trading, looks can be deceiving. The “Official Barron Trump” coin is an example of this; although its potential value, based on its most recent transaction price, is an astounding $6 billion, the reality is far less impressive.
Trump’s memecoin inspires wave of copycats https://t.co/Z5gdmLVkfs
— Financial Times (@FT) February 7, 2025
Since January 21, there hasn’t been any trading activity on the cryptocurrency, and its biggest transaction was only around $240. The large discrepancy between paper valuations and real liquidity serves as a warning about how speculative these investments are.
Scale And Speed: A New Challenge For Cryptocurrency Exchanges
This cryptocurrency gold rush is happening at an unprecedented rate. The first imitation of Trump’s memecoin surfaced within 30 minutes of its initial debut.
This rapid pace hasn’t slowed down; even big companies like Coinbase are finding it difficult to keep up with the creation of new tokens. Brian Armstrong, the exchange’s CEO, revealed that approximately 1 million new tokens are being created weekly, making individual evaluation of each token “no longer feasible.”
Experts Sound The Alarm On Market Manipulation
Market watchdogs and financial experts have harshly criticized the scenario. Trump’s memecoin, according to Brookings Institution analyst Eswar Prasad, has “opened the floodgates to deception.”
The complex methods in which these tokens can be manipulated are more concerning than the sheer number of counterfeit coins. One instance that raised concerns about possible market manipulation tactics was when a trader bought $100,000 worth of a counterfeit “Official Trump” coin, only to sell the entire holding 12 seconds later at a loss.
It’s now very hard for regular buyers to tell the difference between risky fakes and real ones in today’s market. The difference between innovation and making the most of current resources is getting less clear as the rush for digital currency continues. This raises concerns about the long-term impact on cryptocurrency markets and the safety of investors.
Featured image from David Hume Kennerly/Getty Images, chart from TradingView
Crypto analyst Ali Martinez has provided a bullish outlook for the XRP price, predicting that it could still rally to as high as $15 in this market cycle. The analyst also revealed why XRP could record such a parabolic rally to this price target.
Why The XRP Price Can Reach $15
In an X post, Martinez stated that the XRP price can still reach $15. He noted that since January 2018, XRP has appeared to be forming a symmetrical triangle pattern, indicating a potential bullish continuation where every lower high the crypto has made creates a descending trendline at the top.
Meanwhile, every higher low created a rising trendline at the bottom. Now that XRP has broken out of the triangle, the analyst remarked that there is a chance that the crypto could keep rising to reach the $15 target.
This prediction comes just as crypto analyst Egrag Crypto predicted that the XRP price could rally to $10 in this market cycle. The analyst outlined bullish fundamentals such as the XRP ETFs, regulatory clarity, and growing adoption as the reasons why this price prediction is “reasonable.”
In a recent X post, Martinez highlighted XRP’s growing adoption, which undoubtedly presents a bullish outlook for the crypto. He revealed that the total number of XRP addresses just hit a new all-time high (ATH) of 6.87 million.
Crypto analyst Mikybull Crypto also recently provided a bullish outlook for XRP. In an X post, he indicated that a massive run to a cycle top after the current consolidation could be imminent, just as it did in 2017. The analyst added that a rally to between $5 and $10 seems possible in this cycle.
Update On the Current Price Action
In an X post, crypto analyst CasiTrades noted that the XRP price just broke above $2.25, a key midline resistance, and is showing strong momentum as it heads towards the next major resistance at $2.37. She added that this level is critical because it marks the upper trendline of consolidation. According to her, a confirmed breakout above this level could signal the start of a larger move.
As to what could happen next, CasiTrades stated that she is watching out for a few possibilities. If XRP blasts through $2.37 with strength, she claimed that the crypto could rally toward $2.70 before a sharp rejection testing support.
The analyst also remarked that a slower approach would be reaching $2.37, flipping this into support first and then making a stronger push higher. If XRP fails to hold above $2.37, it could face a temporary rejection and remain in consolidation longer.
As a CoinGape market analysis noted, the XRP price is holding well above the $2 support as Ripple enters the Dubai market, which is a huge positive.
Meanwhile, CasiTrades stated that the macro trend remains fully valid and that this entire structure continues to look like the early stages of Wave 3 up. This impulsive wave could take XRP past previous all-time highs and toward the $8 to $13 range. In the meantime, the key levels to watch are the $2.25 support, $2.37 resistance, and the $2.70 major breakout level target.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana price is gaining attention as analysts identify bullish technical patterns that could drive it to new highs. Analysts suggest that Solana ($SOL) is forming a cup-and-handle pattern, a bullish continuation structure in technical analysis. If confirmed, this pattern could push the altcoin to an ambitious price target of $3,800.
Solana Price Cup-and-Handle Pattern Hints at Possible Surge to $3,800
Technical analyst Ali Martinez highlighted on the X platform that Solana price is forming a cup-and-handle pattern. This formation consists of a rounded bottom (cup) followed by a brief consolidation (handle). If the price breaks above the resistance level at the cup’s peak, a strong upward move could follow.
According to Martinez, this setup could trigger a rally toward $3,800 if the breakout occurs. The cup-and-handle pattern is a well-known bullish signal in technical analysis, often leading to strong price movements. However, the breakout confirmation remains crucial for this potential rally to unfold.
Adding to the bullish prediction, a recent CoinGape price analysis highlighted that the top altcoin could hit $4,000 if market conditions align with previous cycles. The analysis pointed to strong technical support at key Fibonacci levels and increasing institutional interest, which could fuel a parabolic rally.
Hidden Bull Divergence Signals Possible Recovery
Additionally, Javon Marks identified another bullish pattern for Solana price, confirming a Hidden Bull Divergence. This pattern forms when the price hits lower lows while the Relative Strength Index (RSI) registers higher lows. It suggests underlying buying pressure, despite the recent price pullback.
Marks projects that Solana price could recover to $270, representing a 107% gain from current levels. He also highlights $233.8 as a key resistance zone. A successful breakout above this level could set the stage for further gains, confirming the bullish momentum in the altcoin.
If SOL price surpasses the $233.8 resistance, Marks predicts an upward move toward $457.97. This target would mark a 252% increase from current price levels. The altcoin’s bullish setup suggests that clearing this resistance could act as a catalyst for continued growth.
At press time, Solana price is trading at $132, marking a 8% increase in the past 24 hours. The top altcoin market cap has surged to $67.28 billion, while the 24-hour trading volume has hit $3 billion. This bullish momentum suggests growing investor confidence, potentially setting up SOL for a further breakout in the short term.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Pi coin price currently boasts a bullish outlook with the Pi network’s celebration of the Pi day today, which has again highlighted the strength of the Pi community. Amid this celebration, analysts have predicted that the coin could soon hit a new all-time high (ATH).
Can The Pi Coin Price Hit A New ATH Amid Pi Day Celebration
In an X post, crypto analyst suggested that the Pi coin price could soon hit a new ATH amid the Pi network’s Pi Day celebration. This came as the analyst highlighted a Head and Shoulders pattern that could soon spark a parabolic rally for Pi.
The analyst’s accompanying chart showed that the coin could rally to as high as $3.6 when this parabolic rally occurs. A rally to this price level would mark a new ATH for the Pi coin, whose current ATH is $2.98.
Crypto analyst Bitcoin Buddha also recently predicted that Pi could reach as high as $10. He noted that the coin is one that stands in the crypto market as it is truly community-owned. The analyst then raised the possibility of Pi listing on Binance soon.
Bitcoin Buddha remarked that over 253,000 community members have voted for the top crypto exchange to list the coin. If that happens, he asserted that the Pi coin price could reach between $5 and $10.
Pi coin is currently buzzing and gaining a lot of attention, especially with the Pi network’s celebration of the Pi coin today. The crypto analytics platform CoinGecko revealed that the coin is leading the pack among the top trending coins.
Meanwhile, as CoinGape reported, Pi coin already surged about 20% two days ahead of the Pi day today. This rally was fueled by optimism and speculation about potential announcements, including a possible Binance listing of Pi Coin.
Grace Period Officially Ends
As the Pi coin price eyes a new ATH, it is worth mentioning that the grace period for both KYC and Mainnet migration has ended. The team yesterday announced that the community members had to complete both their KYC and Mainnet migration by 8 am UTC on March 14 to avoid forfeiting most of their Pi other than Pi mined.
In an earlier CoinGape report, Pi network token holders were cautioned to be keen on the KYC and migration deadline on Pi Day to avoid losing their coins. Token holders also have to pay attention to the concerns around decentralization, which could impact investor confidence in the project after the hype around Pi Day ends.
Meanwhile, the delay in major exchange listings could also lead to bearish momentum for the Pi coin price. This is something which token holders also have to be mindful of. Bybit CEO Ben Zhou already revealed that his exchange has no plans to list Pi.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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