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TRUMP Tops Meme Coins with $1.50 Billion Trading Volume as Market Rebounds

Analysis2mos agoUpdate kitsud...
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In Brief

  • Trading volume surpasses $1.50 billion, marking a 102% spike and outpacing top meme coins like SHIB, DOGE, and PEPE.
  • A positive funding rate signals bullish sentiment, with long traders paying short traders, indicating strong buying pressure.
  • Breakout above the descending trend line suggests an uptrend, with potential price targets at $29.13 or a fallback to $14.27.
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Solana-based meme coin OFFICIAL TRUMP (TRUMP) is recovering from recent losses. Amid the broader market rally, the token’s value has surged nearly 15% in the past 24 hours, outpacing top meme coins by market capitalization.

Technical indicators hint at the likelihood of a sustained short-term price rally. This analysis provides the details. 

TRUMP Outshines Top Meme Assets

The gradual resurgence in trading activity in the crypto market has led to a double-digit spike in TRUMP’s value. At press time, the token trades at $16.87. 

It has noted a 13% uptick in the past 24 hours, eclipsing major meme assets such as SHIB, DOGE, and PEPE, which saw price increases of less than 10%. 

During the review period, TRUMP’s trading volume exceeded $1.50 billion, climbing by 102%. When a rise in trading volume accompanies an asset’s price rally, it indicates strong market interest and investor confidence. 

TRUMP Tops Meme Coins with  .50 Billion Trading Volume as Market Rebounds
TRUMP Price and Trading Volume. Source: Santiment

It signals that the price increase is supported by real demand rather than speculation, suggesting that the meme coin’s price movement is more sustainable.

Further, TRUMP’s funding rate has remained positive despite recent market troubles. At press time, this is 0.0050%.

TRUMP Tops Meme Coins with  .50 Billion Trading Volume as Market Rebounds
TRUMP Funding Rate. Source: Coinglass

An asset’s funding rate is a periodic payment exchanged between its long and short traders on futures contracts. It is meant to keep the contract price in line with the underlying asset’s price. 

As with TRUMP, when the funding rate is positive, it means long traders are paying short traders, signaling that the market is bullish and there’s more buying pressure than selling.

TRUMP Price Prediction: Could $29.13 Be Next?

On a daily chart, TRUMP sits above the descending trend line that had kept its prices low since January 22. When an asset breaks above a descending trend line, it signals a potential reversal in market sentiment, indicating that the asset may be moving from a downtrend to an uptrend. 

This breakout suggests an increasing buying interest in TRUMP and could be the start of a new bullish phase if demand strengthens. In this scenario, the token’s price could climb to $29.13.

TRUMP Tops Meme Coins with  .50 Billion Trading Volume as Market Rebounds
TRUMP Price Analysis. Source: TradingView

On the other hand, if TRUMP traders resume profit-taking, it could lose its recent gains and drop to $14.27.

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This article is sourced from the internet: TRUMP Tops Meme Coins with $1.50 Billion Trading Volume as Market Rebounds

Related: Fast pass against the market trend and violent wash, will $swarms be the next $arc?

Original author: TechFlow When Bitcoin fell and altcoins were all in the red, the memes on the primary chain market have temporarily become the markets safe haven. Although some high-market-cap memes that have been listed on the exchange are inevitably affected by the market and continue to fall, for new hot assets (or more appropriately called fast-passing assets), the panic market sentiment can only cause some superficial injuries at most. Last Friday, the enterprise-level multi-agent collaboration framework Swarms announced on Twitter that it had “claimed” the $swarms token issued by Pump.Fun. The reason for “claiming” is that $swarms was not issued on the day of the official announcement, but existed two days earlier. At that time, $swarms, which had no official endorsement, might have been regarded as an ordinary “scam”…

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