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President Trump was held by President Trump for holders of the controversial memo coin Trump token. After being featured earlier this year, Trump prices have skyrocketed, moving from just $10 to over $70 per day.
However, things changed in the market later, with the token value dropping to $7. Crypto Market Overall it was sold. However, the president’s announcement revived interest in tokens and suddenly turned this decline in trend.
Exclusive dinner plans ignite card token activity
Over the weekend, Trump saw an impressive 80% uptrend and reached around $16. This revival was accompanied by a significant increase in transactions in the chain. It has been reported Market analysis company Kaiko.
On April 23, the team behind Trump’s Memecoin revealed plans for an exclusive dinner to accommodate top 220 owners. In particular, the owners of the top 25 will have a unique opportunity to meet President Trump himself.
Related readings
The announcement sparked a surge in activities that earned nearly 10,000 wallets that transferred card tokens that day alone. This is an increase of 200% from the previous day.
Transaction volume It surged to around $2.3 billion, marking the busiest day of the month. Interestingly, most of this volume comes from small holders, and the wallet contains under $100,000 playing cards tokens, which encourages activity.
The shift was particularly evident as the share of wallets that transfer small amounts of cards spiked from the usual 46% to 75% after dinner announcement. In particular, transactions under $1,000 account for 47.2% of active wallets, indicating a significant influx of small investors.
37% chance Bitcoin reaches $100,000 at the end of the month
The enthusiasm surrounding Trump was not limited to chain activity. Tokens recorded the highest daily trading volume Intensive exchange (CEXS) has overturned other major memokines, such as Dogecoin (Doge).
In fact, the president’s official cryptocurrency accounted for almost 50% of all memocoin trading volumes in the centralized exchange last Wednesday.
The initial excitement is tapering, however, the report says, but there is a possibility of an updated activity as a deadline for eligibility for dinner approaches.
The rule provides that only the top 220 average owners between April 23 and May 12 will qualify, and will likely promote increased trading and movement of funds between holders.
Related readings
The recent surge in interest in Memecoin like Trump comes amid the wider bull run in the cryptocurrency market. Bitcoin’s revival.
Bitcoin’s dominance was reminiscent of the first half of 2021, as it began to move towards small cap assets, often referred to as the “altcoin season.” However, current market conditions suggest a different trajectory as Bitcoin maintains its base.
The options market shows great confidence in Bitcoin’s stability, especially with a notable increase in volume, surrounding $100,000. Strike Options It is set to expire on May 30th.
Current estimates suggest a 37% chance that Bitcoin will trade above $100,000 by the end of May, a promising outlook given the recent trading level is close to $74,000.
Currently, Memecoin is trading at $14.29, pulling back 1.1% over the 24-hour time frame.
Dall-E featured images, charts on tradingView.com
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