Donald Trump’s Memecoin Could Double in Prices Despite Elon Musk Feud Selloff

Official Trump (TRUMP), the official memecoin tied to US President Donald Trump, faced strong selling pressure as the feud between Trump and Tesla CEO Elon Musk erupted in early June.

TRUMP Underperforms During Feud Fallout

The token dropped as much as 17% between June 3 and 6, with traders reacting to the market uncertainty triggered by Musk’s criticism of Trump’s “One Big Beautiful Bill” and Trump’s counterattack threatening federal contracts with Musk-affiliated firms.

This feud hit social media at full force, dominating X timelines and even drawing in political operatives and celebrity influencers. The drama clearly spilled into the memecoin market, with TRUMP underperforming relative to other politically-themed assets during the sell-off.

Despite this short-term volatility, TRUMP has bounced back strongly, recovering over 12.55% from its June low of around $9 to trade near $10.36 at the time of writing.

Bull Flag Breakout Hints at $21 Price Target

Technically, TRUMP appears to be forming a classic bull flag pattern on the daily chart. The token surged sharply in late April, then entered a downward-sloping consolidation channel, respecting both upper and lower trendlines over the past six weeks.

That consolidation may now be nearing a resolution. TRUMP recently rebounded from the flag’s lower trendline support and is showing signs of strength with modest volume support and rising momentum. The RSI is recovering from near-oversold territory (~39), suggesting more upside potential.

A confirmed breakout above the flag’s upper boundary—near the $12.50 mark—would signal the continuation of the prior rally. Based on the height of the previous flagpole (~$12), this setup projects a price target of approximately $21.30, a near 100% upside from current levels.

This target coincides with a key resistance level from April, adding credibility to the pattern’s validity.

Conversely, a break below the flag’s trendline, if accompanied by a rise in trading volumes, could invalidate the bullish setup altogether.