Can TRUMP Rise to $20 After TRON Founder Justin Sun Discloses Being the Top Holder?

In an X post published on Tuesday, Sun confirmed that he will be attending the President’s exclusive gala dinner offered to the top 220 holders of his official meme coin.

The dinner is scheduled to take place tomorrow, which was probably the reason why Sun shared the X post.

According to the leaderboard, a wallet named ‘Sun’ holds 1.43 million tokens worth an approximate of $20.9 million.

Trading volumes for TRUMP more than doubled in the past 24 hours and currently account for 62.8% of the token’s circulating supply.

This rally prompted by Sun has now raised the odds of pushing the price of TRUMP to the point that it breaks out of its consolidation.

Other Solana meme coins are also rallying as Bitcoin (BTC) has surpassed its all-time high during today’s session.

Bonk (BONK), Fartcoin (FARTCOIN), and dogwifhat (WIF) have surged by 7%, 11.5%, and 11.4%, respectively, in the past 24 hours, while meme coins as a whole have increased by 5.3%. Trading volumes have also increased by 33% across the board.

Trump Needs to Break Above $15.5 to Step Out of Consolidation

Official Trump has produced year-to-date gains of 1,117% and has experienced a 72% surge in the past month alone.

The hourly chart shows the key levels to watch after this bullish X post. The most relevant resistance at this point is the $15.30 level. Selling pressure has been strong once the price has reached these levels.

Meanwhile, the 21 and 50-period exponential moving averages (EMAs) have both jumped above the 200-period EMA, which increases the odds of a significant rally.

Based on the size of the consolidation rectangle, if the price breaks above the $15.5 level, we could project a surge to $19.5 at least and possibly to $20 as the market typically likes to retest these psychological areas.

The Relative Strength Index (RSI) has already reached overbought levels, meaning that the trend is quite strong but also that the rally could soon enter a phase of exhaustion.

There could be a strong pullback once (and if) the price rises above the $16 mark. This would be necessary to raise the liquidity required to push TRUMP to higher highs.

Insider Tokens Have Not Been Freed Up

Looking at this year’s trading volumes, the $12 to $14 zone has been the most traded in 2025. When the price rises above this threshold, it means that buyers are in control of the price action as trading volumes are favoring a bullish outcome.

The post-gala price action will also be important as TRUMP could experience a ‘sell the news’ moment. The exclusive ticket for this event has been one of the reasons why the price has stood at its current levels lately as attendees had to buy a significant number of tokens to make it to the leaderboard.

When that demand fades, and the launch team’s locked tokens start to be freed up, TRUMP could experience significant selling pressure.

By June 2025, TRUMP’s emission schedule indicates that circulating supply could rise to nearly 400 million, which is two times the current level.

The gala dinner may have been a stunt to cushion the impact that this supply increase could have in the price in the near term.

CoinMarketCap has not yet updated its reported circulating supply even though the first tranche of insiders’ vesting should have been freed up already. Maybe they will after the gala dinner?