TRUMP Meme Coin Soars 20% After Korea Blockchain Week Announcement

The meme coin TRUMP has seen significant gains after an announcement that it will be featured at Korea Blockchain Week, a major blockchain event in Seoul. The token's price surged by 20% over the past day, with its market capitalization reaching almost $700 million, making it the 90th-largest cryptocurrency and sixth-biggest in its niche.

According to analysts, the price hasn't broken the $3-$3.15 resistance level yet, which could potentially lead to a rally above $10 if it stays persistently above the upper boundary. Crypto Patel claimed that the asset has decisively broken out of the crucial zone at $2.055, arguing that if this level holds as support, it could open the door to a parabolic surge toward $15.

On the other hand, some analysts are warning about the potential risks associated with TRUMP, describing it as a 'scam token' where only insiders can make money while retail investors always lose. Crypto with Haris ₿ advised investors to stay away from TRUMP and MELANIA, stating that their real values lie below $1 and $0.01 respectively.

The holder distribution of TRUMP is also a concern, as the top 10 addresses control over 90% of the token's supply, increasing the risk of price manipulation.