Magic Eden’s ME/USD shows bullish potential while controversy over the “Official TRUMP Wallet” unfolds. Let’s explore the technical setup and the public fallout.
ME/USD Bullish Pennant Targets 30% Breakout to $1.356
A bullish pennant appears after a sharp upward price movement, followed by consolidation within converging trendlines that slope inward. This pattern often signals a continuation of the previous uptrend once the price breaks above the upper boundary.
Currently, ME/USD trades at $1.042. If the bullish pennant confirms with a breakout above the upper red trendline, the price may rise 30 percent from the current level. That move would send ME/USD toward the projected target of approximately $1.356, as marked by the dotted blue line.
The 50-period Exponential Moving Average, now at $0.958, acts as dynamic support. Price remains above this level, indicating bullish strength. Volume also shows a decline during the consolidation, which is typical for a pennant and supports the pattern’s validity.
For confirmation, traders will look for a strong candle close above the upper red trendline, ideally with increasing volume. If this breakout occurs, momentum could push ME/USD toward the $1.35 target.
ME/USD RSI Hints at Neutral Momentum Before Breakout
On June 4, 2025, the 1-hour Relative Strength Index (RSI) for Magic Eden to United States Dollar (ME/USD) stood at 53.59, while the RSI-based moving average held at 58.75.
The Relative Strength Index measures the strength and speed of a price movement. Values above 70 suggest overbought conditions, and those below 30 indicate oversold levels. The RSI line crossed above 90 briefly during the previous rally, confirming strong bullish momentum, but it sharply dropped back into the neutral zone.
Currently, RSI hovers between 50 and 60, showing indecisive momentum. The price consolidation seen on the main chart matches this RSI behavior. The falling RSI suggests weakening buying pressure but does not yet signal bearish divergence.
As long as RSI remains above 50 and does not drop below 45, it supports a possible bullish breakout—especially if the pennant structure confirms. However, if RSI drops below its moving average and crosses below 50, bullish strength may fade.
ME/USD DMI Shows Weakening Trend Strength Amid Volatility
On June 4, 2025, the Directional Movement Index (DMI) for Magic Eden to United States Dollar (ME/USD) revealed a potential decline in bullish momentum. The DMI uses three key components:
+DI (blue): 34.91
–DI (orange): 12.14
ADX (red): 58.27
The +DI remains above the –DI, which confirms that bulls are still in control. However, the gap between them is narrowing, which signals a possible reduction in buying strength. The Average Directional Index (ADX), currently at 58.27, indicates a strong trend, but it appears to be flattening.
Earlier, a spike in +DI with low –DI and rising ADX suggested strong bullish momentum. Now, with +DI declining and ADX peaking, the trend may be losing force.
If +DI falls below –DI, this would flip the trend to bearish. For now, ME/USD holds its uptrend, but traders should monitor further convergence between the DI lines and any drop in ADX.
ME/USD MACD Turns Bearish After Strong Surge
On June 4, 2025, the Moving Average Convergence Divergence (MACD) indicator for Magic Eden to United States Dollar (ME/USD) flipped bearish on the 1-hour chart.
MACD shows the difference between two exponential moving averages (12-period and 26-period), helping identify momentum shifts. The chart plots three key values:
MACD Line (blue): 0.025
Signal Line (orange): 0.034
MACD Histogram: –0.009
Earlier, the MACD line surged above the signal line, which signaled strong bullish momentum. This crossover aligned with a price rally, confirmed by the green histogram bars expanding above zero.
However, the momentum has reversed. The MACD line has now crossed below the signal line, and the histogram has turned red. This crossover suggests weakening buying pressure and a potential short-term bearish phase.
If the histogram continues to widen in negative territory, it may confirm extended downside. But if the MACD line flattens near the signal, the move may be temporary.
Current momentum leans bearish unless the MACD line reverses above the signal.
Trump Crypto Wallet Sparks Confusion as Family Denies, But Magic Eden Stands Firm
On June 3, 2025, NFT platform Magic Eden announced a partnership with the TRUMP meme coin team to launch a new self-custodial crypto wallet branded with Donald Trump’s name. The project, titled the “Official TRUMP Wallet,” quickly triggered backlash from the Trump family, creating confusion and legal threats.
According to Magic Eden, the wallet will support Bitcoin, TRUMP tokens, and other digital assets. It also features a gamified waitlist that offers users a share of $1 million in TRUMP token rewards.
Trump Family Publicly Denies Involvement
Soon after the announcement went live on social media and the TrumpMeme X account, multiple Trump family members distanced themselves from the project. Eric Trump posted a warning to Magic Eden, stating, “This wallet is not authorized by Trump,” and advised the platform to “be extremely careful” about using the family’s name.
Donald Trump Jr. reinforced the statement, claiming that the Trump Organization had “zero involvement.” He added that the family’s own crypto project, World Liberty Financial, would soon launch an official wallet. Barron Trump also denied any affiliation with the product.
Ownership Tied to Trump-Affiliated LLCs
Despite the denials, the TRUMP Wallet’s official website cites a partnership between Magic Eden and GetTrumpMemes.com. That website is owned by Fight Fight Fight LLC, which is partially controlled by CIC Digital LLC—a company affiliated with the Trump Organization. Together, they reportedly hold a majority share of the TRUMP token supply.
This connection has raised questions about who exactly authorized the branding and whether internal conflicts exist within Trump-linked crypto operations.
Magic Eden Responds to Allegations
In a response to journalist Eleanor Terrett, Magic Eden insisted the wallet carries full Trump branding approval. The platform stated that the partnership is official and the wallet will include the Trump family’s name and intellectual property.
While confusion builds, crypto analyst Molly White described the situation as “absolute chaos,” pointing to a lack of coordination between the Trump family’s various crypto ventures.
