Donald Trump Coin Rallies Over 15% Following Trade Deal Tease

Official Trump (TRUMP), a memecoin associated with US President Donald Trump, rallied by more than 15%, driven primarily by hisannouncement of a “major trade deal” with a “big, highly respected country,” set to be unveiled on Thursday, May 8, at 10 am ET in the Oval Office..

UK is The Possible New US Trade Partner

American and British officials met this week to negotiate plans to reduce tariffs on cars, steel, and other goods, aiming to ease trade tensions after the US president imposed sweeping levies on allies and rivals in recent weeks.

A UK official confirmed that President Trump will announce a preliminary deal later Thursday. Prime Minister Keir Starmer, who had planned to deliver a defense speech in London marking the 80th anniversary of the end of World War II, will instead update the public on the talks, his spokeswoman said.

The news sparked rallies in TRUMP coin and the broader market, as investors bet that lower trade barriers would boost global risk appetite and ease economic pressures, driving demand for risk assets across both crypto and traditional markets.

The broader crypto market saw gains, with Bitcoin rising 2.30% post-Trump’s comments to inch toward the $100,000 target, reinforcing the positive momentum. The $TRUMP coin, tied to Trump’s pro-crypto stance and promises of a US crypto reserve, benefited from this environment.

TRUMP Coin Breaks Out of Falling Wedge

The TRUMP coin had surged over 10% as of May 8, breaking out of a multiday falling wedge pattern, signaling a potential bullish reversal in the memecoin’s price action.

The TRUMP/USDT 4-hour chart shows it bouncing from the wedge’s lower support and decisively breaking above the upper trendline. The breakout occurred alongside a spike in trading volume, reinforcing the strength of the move.

Technical projections from the wedge’s widest point place the next upside target near $13.94, suggesting a potential 14% rally from current levels. The price is also trading above both the 50-period and 200-period exponential moving averages (EMAs), further supporting bullish momentum.

Meanwhile, the relative strength index (RSI) has climbed above 64, signaling rising buying pressure but staying below overbought levels, leaving room for more upside.