- TRUMP’s price just did a little happy dance, up by 8.42% in the last 24 hours, while the rest of the market is having a meltdown.
- Trading volumes are hinting at a party, suggesting investors are throwing their cash at this memecoin like it’s confetti.
So, the crypto market is having a bit of a crisis, with big boys like Bitcoin and Ethereum taking a nosedive. But guess what? TRUMP, the memecoin that’s basically the lovechild of the Solana network and U.S. President Donald Trump, is strutting its stuff in the opposite direction. 🎉
Picture this: Its price just climbed by 8.42% in the last 24 hours, making it one of the few altcoins that’s not crying in the corner. As of now, this memecoin is sitting pretty at $11.68, with a total value of $2.33 billion. And in the last 24 hours, traders have been busy, moving around $1.29 billion worth of this cheeky coin. 💸
TRUMP’s rise and the on-chain gossip
While most cryptos are falling flat, TRUMP is like that one friend who always shows up to the party. Investors are clearly more interested in it than in their exes right now.
Why, you ask? Well, community support is a biggie. Memecoins thrive on social media hype, and TRUMP’s connection to the 47th American President is like catnip for the internet. Especially since he’s been making some major moves that have crypto enthusiasts buzzing. 🐝
Another theory? Traders might be ditching the big coins like Bitcoin and Ethereum for the thrill of smaller, riskier ones, hoping to hit the jackpot. Or maybe they’re just feeling lucky and betting that TRUMP’s price will skyrocket. 🎰
According to the on-chain detectives at IntoTheBlock, there’s been a spike in large transactions over the past month, coinciding with TRUMP’s price hike. The biggest day? January 20, 2025, when 65 major transfers were recorded. Talk about a busy day at the office!
At that time, the memecoin’s price peaked at $4.00, showing that when the big transactions happen, the price likes to follow suit. It’s like a well-rehearsed dance routine. 💃
And let’s not forget CoinGlass, which revealed that Open Interest in TRUMP Futures has jumped by 12.74%, reaching $332.7 million. That’s a sign that traders are feeling pretty confident, or maybe just a little reckless. 😏
Trading volumes and the market drama
TRUMP’s $1.29 billion trading volume is like a neon sign flashing “Look at me!” But hold your horses, this surge isn’t part of a broader memecoin rally. Dogecoin (DOGE) just dropped by 41%, leading to $4.54 billion in liquidations. Ouch! Meanwhile, DOGINME, another memecoin, is having a glow-up with a 162% surge after an exchange listing. Talk about mixed signals!
This means TRUMP’s movement is a bit of a lone wolf, likely driven by speculation, community hype, and those big transactions rather than a trend sweeping the industry. 🐺
In simple terms, TRUMP’s 8.42% gains are like a bright star in an otherwise gloomy sky. With big trades and heavy buying and selling, it’s clear that a lot of folks are getting cozy with TRUMP right now. 🥳
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2025-03-15 02:18