- The TRUMP token noticed an enormous surge in curiosity, with costs hovering 20% within the final 24 hours.
- Trump’s feedback round crypto and excessive social quantity performed a task in its development.
The meme coin sector has been one of the worthwhile sectors for holders within the current crypto bull run.
Meme cash associated to the 2024 U.S. presidential elections, similar to TRUMP and BODEN, have garnered vital consideration over the previous couple of months.
TRUMP sees inexperienced
On the time of writing, the worth of TRUMP was $10.16 reflecting a surge of 20.75% within the final 24 hours. Nevertheless, this surge in value wasn’t one thing that occurred fully out of the blue.
For the reason that ninth of Might, the worth of TRUMP was noticed to be rallying. Throughout this era, the worth of TRUMP showcased a number of greater highs and better lows, indicating a bullish development.
The current uptick in value additional cemented the bullish development being proven by TRUMP.
The RSI (Relative Power Index) additionally grew materially over the previous couple of days, indicating a heightened bullish momentum.
Nevertheless, if RSI continues to develop, TRUMP might attain the overbought territory, which may imply there possibly a slight correction forward for the meme coin.
Supply: Buying and selling View
Optimistic feedback
One purpose for the current pump within the meme coin’s value can be the feedback made by Former President and main 2024 Republican candidate Donald Trump, who expressed his assist for cryptocurrency to this point in a submit on Fact Social.
This submit got here simply earlier than his scheduled look on the Libertarian Nationwide Conference.
Trump emphasised his constructive outlook and open-minded strategy in the direction of cryptocurrency corporations and your entire burgeoning business, asserting that america should take the lead on this area.
Because of the feedback made by Trump, social media exercise across the memecoin skyrocketed.
AMBCrypto’s evaluation of Santiment’s information revealed that Social Quantity across the token had grown considerably in the previous couple of days.
Coupled with that, the Weighted Sentiment across the token had additionally grown, implying that the variety of constructive feedback had outnumbered the damaging ones on the time of writing.
The rise in social media reputation may help TRUMP’s value motion within the quick time period, nevertheless the election outcomes can introduce volatility to the costs.
Supply: Santiment