What is Cryptocurrency 

The concept of cryptocurrency originated and the first cryptocurrency, Bitcoin, was introduced in 2009 following the global financial crisis in 2008. Cryptocurrency is a digital or virtual currency secured by cryptography, making it nearly impossible to counterfeit or double-spend. 

Most cryptocurrencies exist on decentralized networks that use blockchain technology—a distributed ledger enforced by a diverse network of computers—providing the main advantage of not being generally subject to a central authority, theoretically making them immune to government intervention or manipulation. 

The global market capitalization of cryptocurrencies today is approximately $3.76 trillion, a 122.29% increase from a year ago. Bitcoin alone (BTC) has a market capitalization of around $2.08 trillion, representing Bitcoin's dominance at 55.36% of the industry. 

What Drives Those Cryptocurrencies 

The cryptocurrency market is driven by various factors, including the rise of Initial Coin Offerings (ICOs), increased institutional adoption, unpredictability of the global economy, media coverage, speculative activity, and endorsements from prominent and famous individuals whose opinions people trust. 

The Relationship of Cryptocurrencies with Celebrities and Public Figures 

Cryptocurrencies have gained increasing popularity among investors and public figures, with many celebrities showing interest in various digital assets. Figures like Elon Musk, CEO of Tesla and SpaceX and one of the richest people on earth, have emerged as particularly influential personalities in the world of cryptocurrencies. 

Musk has repeatedly expressed his opinions on assets like Bitcoin and Dogecoin through his platform X (formerly Twitter) and other platforms. These endorsements and comments have caused significant fluctuations in the prices of these digital currencies. 

His early support for Bitcoin in 2014, followed by a shift in sentiment due to environmental concerns, and his subsequent promotion of Dogecoin in 2021, have had a notable impact on the prices of these cryptocurrencies as a whole. 

Trump's Cryptocurrency ($TRUMP) 

The newly inaugurated U.S. President Donald Trump and First Lady Melania Trump launched meme coins for themselves just before their installation (meme coins are a specific type of cryptocurrency, entirely different from Bitcoin or stablecoins), which have generated billions of dollars (on paper currently) and have received mixed reactions in the crypto industry. 

Following the launch of the $TRUMP coin last Friday, its market capitalization upon launch reached approximately $9 billion after peaking at over $15 billion early last Sunday, representing Trump's latest project in cryptocurrencies and merchandise sales in the period preceding his installation. 

Trump announced the launch of his own meme coin, $TRUMP, in a post on his personal platform Truth Social late Friday, stating that the cryptocurrency celebrates "winning" the presidential election and his upcoming installation. 

Shortly after its launch, the price of $TRUMP surged rapidly by over 300% by Saturday morning, continued to rise on Saturday night and Sunday morning, before reducing some of its gains later on Sunday. 

Currently, the price of $TRUMP is $31.81 with a current market capitalization of $6.36 billion, a 24-hour trading volume of $5.06 billion, a 24-hour increase of +13.54%, and a circulating supply of 200.00 million. 

Since the coin's launch, its highest price reached $75.35, and it is currently moving below this price by 56.58$, while its lowest price reached $25.91. 

Like other meme coins, the price of the currency does not have any cash flows or a specific commercial purpose easily, or more accurately, it is a volatile currency. When Trump's team launched another coin named after his wife Melania, $MELANIA, one day later, the value of Trump's coin dropped by more than 40%, with $MELANIA's market capitalization ranked 17th at approximately $350 million. 

It is worth noting that only a small portion of the total coin supply is available for trading, and the rest appears to be owned by the Trump family. The Wall Street Journal recently estimated the president's stake at $30 billion, noting that this figure is theoretical only, and the newspaper stated that any attempt to sell the coin bundle is likely to lead to a further decline in its value. 

Technology Used for That Coin 

The $TRUMP coin is a cryptocurrency built on the Solana blockchain and was launched just a few days before Donald Trump's inauguration as president. Initially, the legitimacy of the coin and its association with him was questioned until Trump himself confirmed its authenticity through his official accounts on X (formerly Twitter), owned by his friend Elon Musk, one of the key players in the new U.S. administration, and on his personal platform Truth Social. The $TRUMP coin logo features a cartoon image of Trump raising his fist. 

$TRUMP experienced significant market activity, becoming the 19th most valuable cryptocurrency in the world within two days of its launch, with a total trading value approaching $13 billion. 

Meme coin developers limited the supply of $TRUMP to 200 million coins at launch, before expanding the total supply to 1 billion over the next three years, according to the coin's website. 

Approximately the remaining 80% of the tokens that were not publicly issued are owned by CIC Digital LLC, a subsidiary of the Trump Organization, and Fight Fight Fight LLC, a company founded in Delaware on January 7 according to state filings. Both companies will receive an undisclosed amount from revenues derived from trading activities. 

The coin's website includes a disclaimer, stating that $TRUMP "is not intended to be, or be the subject of" any investment opportunity or safety of any kind, and that it "is not political and is unrelated" to any political campaign, political office, or government agency. 

Is Melania Coin Linked to Trump Coin 

First Lady Melania Trump also launched an encrypted asset called $MELANIA on Sunday, and the elected president retweeted her announcement. The meme coin also relies on the Solana blockchain. 

Trump's Marketing Campaigns 

Trump's meme coin is the latest marketing campaign in recent years, adding to a range of perfumes, colognes, and "Trump Watches" to celebrate his election victory. He launched a series of "Trump Watches" worth up to $100,000 in September, after introducing silver coins priced at $100, 1,000 pairs of limited-edition sneakers, $60 of Trump-branded sacred books, and NFT cards. 

Most of Trump's revenues came from his merchandise NFTs, which are said to have earned him approximately $7.2 million in licensing fees. 

The latest collection of signed and unsigned Trump guitars was sold for $11,500 and $1,500 each, respectively, resulting in combined sales of $4.6 million. 

Future of Cryptocurrencies in Trump's Era 

The cryptocurrency industry has high hopes in Trump's new administration, as the new Trump administration has promised to create a second golden age for cryptocurrencies. Trump stated his desire to make the United States the "crypto capital of the planet" and promised much lighter regulatory legislation compared to what it was under former President Joe Biden. He also promised Mark Oida, whom Trump appointed as Acting Chairman of the Securities and Exchange Commission (SEC) on Tuesday, to immediately launch a cryptocurrency task force led by Commissioner Hester Peirce, one of the agency's largest advocates for cryptocurrencies. 

At the same time, new investment tools such as Exchange-Traded Funds (ETFs) have helped rekindle interest, pushing Bitcoin's price above $100,000 for the first time in November. By late Thursday, Bitcoin was priced at $104,800, slightly below its all-time high of $109,115. 

Amid all these reasons for optimism, it's not hard to see why Trump's meme coins generate mixed feelings among investors. They remind them not only of the current administration's promises to revive the industry but also of their susceptibility to sharp volatility and manipulation. 

Technical Analysis of ($TRUMP) Coin on a 60-Minute Frame 

The $TRUMP coin is experiencing several negative pressures against the dollar, the first being the dominance of the short-term downward trend and its trading along a trend line. Additionally, negative pressure continues due to its trading below its previous 50-day simple moving average. Furthermore, we observe the resurgence of negative signals from the Relative Strength Index (RSI), after the price managed to relieve some of its sell saturation, but due to the surrounding negative pressures, the price could not rise much to clear more of this sell saturation. 

However, if we look at the attached chart, we see the price drawing progressively lower highs and lower lows over extended timeframes, indicating increasing weakness in this downward trend and a positive signal near the end of this trend. 

However, we cannot recommend buying this coin at the moment. It must first eliminate the negative pressures and break through the resistance level at $32.30 to confirm the end of this downward trend. Without that, we expect further declines in the coin's price targeting the important support level at $25.71, which is the lowest price this coin has recorded. In case of breaking this support, we then expect targeting the first support levels at $19.25. 

Generally, we see that levels between $25.71 and $19.25 are good buying levels in the short term. 

Ethereum price (ETHUSD) declined strongly to succeed touching our suggested negative target at 3017.30$, and the way seems open to surpass this level and suffer additional losses on the intraday and short-term basis, noting that confirming the break will push the price towards 2765.00$ as a next negative station.

On the other hand, we should note that the consolidation of 3017.30$ level against the current negative pressure will lead the price to attempt to recover and build bullish wave that targets testing 3222.00$ areas initially.

The expected trading range for today is between 2950.00$ support and 3200.00$ resistance.

Trend forecast: Bearish

Bitcoin price (BTCUSD) suffers more losses to surpass our first negative target at 99500.00$ and confirm the continuation of the bearish trend domination in the upcoming sessions, opening the way to head towards 95195.00$ that represents our next main target.

Therefore, we will continue to suggest the bearish trend for today, taking into consideration that breaching 100150.00$ will stop the current negative pressure and push the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 97000.00$ support and 101000.00$ resistance.

Trend forecast: Bearish

Brent oil price is testing the key resistance 78.39$ now, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the bearish trend scenario valid for today, which targets 77.05$ as a next negative station, reminding you that breaching the mentioned resistance will push the price to build bullish wave that its first main target located at 80.10$.

The expected trading range for today is between 76.40$ support and 79.40$ resistance.

Trend forecast: Bearish