US Senate Investigates Trump Event... Meme Coin Market Volatility Expected to Explode

▲ Trump Coin (TRUMP), Dogecoin (DOGE), Pepe (PEPE)/ChatGPT generated image ©

As the political risk of a US Senate investigation emerged, a strong signal of increased volatility across the meme coin market was triggered.

According to the cryptocurrency media outlet CoinGape on April 11 (local time), US Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal have launched an investigation into the meme coin conference scheduled to be held by President Donald Trump at Mar-a-Lago. They raised concerns that the event and the TRUMP meme coin were artificially inflating prices, and that the Trump family might be profiting from fees.

Amid these political variables, market attention is focused on the short-term price movements of major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). With investor sentiment likely to be significantly shaken ahead of the conference, the possibility of increased volatility is being raised.

First, Dogecoin showed signs of increased demand with spot ETF inflows reaching a four-month high, but its Relative Strength Index (RSI) remains neutral at around 50, limiting clear directionality. However, a golden cross has formed where the 50-day simple moving average has crossed above the 100-day line, opening up the possibility of increased upward momentum. If it rises, it could test resistance at $0.0943 and extend to $0.10, but if it fails, there is a possibility of a decline to $0.088.

Shiba Inu is currently trading at $0.0000059, down 0.4% over 24 hours. While a bearish outlook prevails as the burn rate has fallen to multi-month lows, a symmetrical triangle pattern has formed, leaving open the possibility of an upward breakout in the medium to long term. The Chaikin Money Flow (CMF) also shows that buying pressure is gradually starting to overtake selling pressure, and a breakout could see it rise to $0.00000743.

Pepe is trading around $0.00000354, consolidating near its all-time low. Despite Canary Capital's application for a Pepe spot ETF, demand remains limited. Technically, a falling wedge pattern suggests a potential rebound, but the Relative Strength Index (RSI) remains at 51, indicating a lack of buying pressure. If it breaks the resistance level of $0.00000375, it could rise to $0.00000725, but the analysis suggests that consolidation is more likely for now.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*