- Spot traders are hoarding TRUMP like it’s toilet paper during a pandemic. 🧻
- Binance derivatives traders are jumping in too, because why not? 🤷♂️
In the last 24 hours, TRUMP dropped 3.25%. Monthly? Down 32.62%. Ouch. But hey, the market might be gearing up for a rally. Or it might not. Who knows? 🤔 Accumulation metrics are popping up everywhere, so maybe, just maybe, this meme coin will moon. 🌕
AMBCrypto found that spot traders have been buying TRUMP like it’s on sale at Walmart. This has TRUMP trailing in a bullish pattern. But it needs to overcome a major hurdle. Like, you know, gravity. 🚀
Spot and Binance Traders: The Heroes We Don’t Deserve
In the spot market, traders are accumulating TRUMP like it’s Bitcoin in 2010. Coinglass’s exchange netflows show $41.92 million worth of TRUMP bought since March 16. That’s a lot of memes. 🤑
This massive purchase, with no price surge, suggests traders are buying at a discount. Or maybe they’re just really into memes. 🤷♂️
Meanwhile, Binance derivatives traders are leading the charge. The long-short ratio is at 3.95, meaning they’re bullish. Or maybe they’re just bored. 🐂
Proceed With Caution (Or Don’t, It’s Your Money)
Some metrics suggest caution. The Open Interest-weighted funding rate is negative (-0.0112%), which could mean TRUMP trends lower. Or it could mean nothing. 🤷♂️
The overall market long-to-short ratio is below 1 (0.9128), indicating more sell contracts. So, TRUMP could drop further. Or it could moon. Who knows? 🌕
Accumulation Phase: The Calm Before the Storm (Or the Crash)
TRUMP is trading in a descending triangle, a bullish accumulation pattern. Or it’s just going down. 🤷♂️
If the downtrend continues, spot traders will keep buying at lower levels. And accumulation will continue until the rally to $32.30. Or until it crashes. 🚀
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2025-03-21 16:09