Crypto Quill

A little-known Solana meme coin tied to Donald Trump just flashed a major reversal signal while Wall Street inches closer to approving the first-ever TRUMP spot ETF.

The token known as $TRUMP rocketed 4% on Friday to $3.43 after Canary Capital filed a key amendment to its S-1 application with the Securities and Exchange Commission. Traders now watch a massive wedge pattern that could send the price much higher if history repeats.

Canary Capital, a Nashville-based crypto investment firm, submitted its amended S-1 filing late Thursday. The update comes just weeks after the company first revealed plans for a spot exchange-traded fund that would hold actual $TRUMP tokens.

This amendment marks the strongest sign yet that regulators may green-light the product before summer. The firm already runs a Litecoin ETF and has filed for several others, giving it experience with the SEC review process.

Market watchers say the filing arrived at the perfect moment. Bitcoin climbed back above $68,000 after softer-than-expected U.S. inflation numbers boosted risk appetite across crypto markets.

Price Action Shows Classic Bottom Reversal

The $TRUMP chart tells its own story. After months of sliding inside a giant falling wedge, the price kissed the lower trendline this week and bounced hard.

Technical analysts point to several bullish clues:

• Higher low formed near $3.10
• RSI climbed out of oversold territory
• Trading volume spiked 40% during Friday’s move

A clean break above $4.20 would confirm the wedge breakout and target $7 to $9 in the coming weeks, according to patterns seen in similar setups.

From Joke to $31 Billion Giant

Launched in early 2025 as pure satire, $TRUMP now ranks among the top meme coins by market cap. CoinMarketCap data shows the token sits at $31.04 billion, with $2.75 billion traded in the past 24 hours alone.

That places it ahead of established projects and makes it the clear leader among political meme coins. Daily volume regularly tops major altcoins, proving traders treat it as more than just a gag.

The community stays fiercely active. Thousands of holders call themselves “MAGA Army” and flood social media with victory memes every time the price jumps.

What the ETF Would Actually Mean

If approved, Canary Capital’s fund would let traditional investors buy $TRUMP exposure through normal brokerage accounts. No wallets needed. No gas fees. Just instant trading alongside Apple and Tesla stocks.

That matters more than most realize. Spot Bitcoin ETFs pulled in over $50 billion in their first year. Even a fraction of that flowing into $TRUMP would dwarf current liquidity.

Risks Still Loom Large

Not everyone cheers the rally. Critics call meme coins pure gambling, and $TRUMP carries extra political baggage. Any negative news about Donald Trump himself often hits the token hard.

Regulators could still reject the ETF. The SEC has dragged its feet on similar products, and some officials openly dislike politically charged assets.

Yet the price action speaks louder than warnings right now. Every dip finds eager buyers who believe the wedge breakout is just beginning.

The meme coin that started as a joke has grown into something regulators can’t ignore. With an ETF filing moving forward and technical signals flashing green, $TRUMP stands at a crossroads that could define the next chapter of political crypto.

This wild ride shows how far the market has come, and how everyday traders now drive billion-dollar moves with nothing more than conviction and memes. What started as satire now trades with real Wall Street ambition. Love it or hate it, $TRUMP forces everyone to pay attention.