TRUMP Token Price to Breakout or Breakdown by Early September

The TRUMP token is currently trading at $2.81 after an 80% spike and subsequent 33% reversal this month, leaving it in a narrowing triangle formation.

Abu Dhabi's Sheikh Tahnoon has backed a 49% stake in World Liberty's new bank, which received preliminary OCC approval to manage the USD1 stablecoin backed by $4 billion of its own coins. The deal raises questions about potential conflicts of interest, as it follows an earlier investment by Tahnoon in Trump-linked entities.

Senators Warren and Blumenthal have requested that the SEC investigate TRUMP for possible 'rug pull' tactics after reports emerged of investors losing millions while Trump-linked wallets gained $636 million.

The token's price is expected to break out or breakdown from its current triangle by early September, with a close above $2.90-$3 confirming a breakout and opening the door to the August spike high of $3.69. However, failure at the triangle resistance could see the price drop towards the 100-period EMA at $2.02.