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The crypto market has seen a resurgence of interest in certain altcoins as speculation mounts surrounding an exclusive gala dinner and White House tour scheduled for May 22, reserved exclusively for the top 220 holders of the TRUMP meme coin. This event has reignited discussions and investments in several alternative cryptocurrencies.
Central to this surge is the TRUMP meme coin itself, which continues to capture significant attention. Justin Sun, the founder of Tron (TRX), is set to attend the private dinner, affirming previous speculations regarding his participation. According to data from Arkham Intelligence, a cold wallet linked to Huobi (HTX), the exchange associated with Sun, leads the TRUMP token leaderboard, indicating that he holds the largest known amount of the token. Although the specific identity of the wallet owner remains unconfirmed, Sun's confirmed attendance has amplified interest in both the TRUMP token and Tron (TRX), generating widespread discourse within the cryptocurrency community.
This heightened focus could positively impact TRX's short-term price performance. Should the upward momentum persist, TRX might surpass the resistance level at $0.267, targeting the next resistance point at $0.279. Conversely, should the current support at $0.261 falter, the token might retreat to $0.256. A more pronounced downward trend could drive TRX closer to $0.250 and potentially down to $0.243.
Meanwhile, World Liberty Financial (WLFI) generated considerable debate after acquiring $3 million worth of EOS, approximately equivalent to 3.64 million EOS tokens. This move was noted for aligning with WLFI's increasing engagement in politically aligned crypto ventures, particularly those related to President Trump. Since the acquisition, EOS has appreciated by over 9%, yet lingering doubts persist due to WLFI's recent financial setback, involving a $125 million loss reportedly incurred from selling Ethereum at a local low earlier this year.
Despite these concerns, there is no substantiated evidence suggesting impropriety in the EOS transaction. Nonetheless, WLFI's connections to Trump and its history continue to attract close examination. If President Trump's upcoming TRUMP coin dinner, where WLFI is anticipated to be present, stimulates activity among affiliated altcoins, EOS stands to benefit from the resulting positive momentum. A robust upswing might prompt EOS to challenge resistance levels at $0.805 and $0.869. Continued optimism could propel EOS to higher targets at $0.916 and $0.979. Alternatively, if pessimism takes hold and EOS loses ground beneath $0.754, it could swiftly fall to $0.663.
The MELANIA meme coin, inspired by First Lady Melania Trump and launched shortly after the TRUMP meme coin, maintains a strong association with its narrative. Although the token has declined considerably from its peak, it continues to profit from the broader trend of political meme coins. As anticipation builds for Donald Trump's gala dinner for top TRUMP holders, MELANIA might experience renewed investor interest. Even though MELANIA is not directly participating in the event, it could capitalize on spillover attention from the TRUMP ecosystem.
In recent weeks, MELANIA underwent a dramatic 50% rally before retreating 23.4% in the last seven days, underscoring its volatile nature. If the downtrend persists, the token might probe critical support levels at $0.316 and $0.306, with a possible slide below $0.30 marking new historical lows. However, should sentiment shift and momentum reemerge, MELANIA could rebound towards resistance at $0.362. Breaking above this level might pave the way for additional gains to $0.427 and potentially $0.487 if the rally intensifies.
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