- TRUMP coin price shows reversal opportunity from the bottom trendline of a long-coming wedge pattern.
- Canary Capital amended its S-1 filing for a proposed spot ETF tied to the TRUMP token.
- According to CoinMarketCap, the top memecoin contributed to a marketcap of $31.04 billion, and recorded $2.75 billion in 24-hours trading volume.
TRUMP, the Solana-based meme coin jumped roughly 4% on Friday to reach its current trading value of $3.43. The buying pressure followed broader market movement as Bitcoin reclaimed the $68,000 mark amid the release of January U.S. CPI data. However, the TRUMP coin price gained additional traction as Canary Capital submitted a S-1 amendment for its spot Trump Coin ETF, bolstering its prospect for potential launch.
Canary Capital Updates TRUMP ETF Filing Amid Market Recovery
On February 13th, the overall crypto market witnessed a surge of 4.3%, pushing its market cap to $2.36 Trillion. Subsequently, the Bitcoin price bounced 3.93% to hit $69,000, while the TRUMP coin surged 4.99% to reclaim $2,000.
The sudden uptick can be attributed to the release of January CPI data at 2.4% annually, slightly less than the market’s expectation of 2.5%. This print suggests decelerating Inflation and strengthening the case for potential interest rate cuts in 2026.
Asset manager Canary Capital has updated its registration papers for a proposed spot exchange-traded fund that would directly follow the $TRUMP memecoin, a Solana-based cryptocurrency launched in early 2025.
The token, which is closely linked to political themes regarding former President Donald Trump, experienced explosive growth after his victory in the presidential election, but has declined sharply and continues to experience price instability.
Originally submitted in late August 2025 in a form S-1 under the securities act of 1933, the filing aims to allow conventional investors to access exposure via brokerage accounts without directly managing their wallets – with a pattern established by known products in the spot bitcoin space.
BitGo has been designated as the custodian of the underlying assets and this development moves the application forward for potential clearance by U.S. regulators.
Bloomberg ETF analyst James Seyffart said the approval of this politically-charged, high-volatility instrument amid the current crypto market weakness in February 2026 highlighted ongoing fears of meme tokens and compliance barriers in the industry.
Trump Price Poised For Major Reversal Within Wedge Pattern
In the last 72-hours, the TRUMP coin shows a bullish rebound from $3 support to current trading value of $3.24, registering a gain of x%. When analysed in the daily chart this upswing shows price reversal from the bottom trendline of a falling-wedge pattern.
Since April 2025, the TRUMP price has been resonating within two converging trendlines, that act as dynamic resistance and support.
Historically, a retest to the pattern’s bottom trendline has bolstered this memecoin with sufficient momentum to drive a fresh recovery trend. The momentum indicator RSI in an oversold of 29% further reinforces the recovery of this asset after an over extended downtrend.
If history repeats, the coin price could rebound roughty 56% and target wedge pattern trendline at $5.36.
Also Read: Ethereum Price Reclaims $2,000 as Staking Hits Record 30.5% of Supply
Credit: Source link