Last upgraded: March 8, 2024 08:29 EST|4 minutes checked out
As Solana meme coin markets stay supercharged, Trump token on SOL has actually installed an amazing 590x rate climb in less than 24 hours.
This post will offer an analysis of TRUMP's existing cost patterns and seek to see whether a more recent Bitcoin option, GBTC, represents a more appealing financial investment chance at this time.
#trump is on flying force 1 and has no intent of conference Biden at the white home. Send it to 4bmcap. 2LzvQfbj9VU66BvZc3uoVLNEqQm4iFi89QgV5y1A6ehE https://t.co/nrKMqPZ2E6 pic.twitter.com/CGjcgUF3uU
— Alkebulan-HTown (@AlkebulanHTown) March 7, 2024
The bold launch of TRUMP on SOL emerged in reaction to seismic relocations by SOL-based Presidential competing Jeo Boden token– which took off over +100,000%.
TRUMP Price Analysis: As Trump Token on SOL Explodes Overnight– Is Retrace The End of The Road?
As cost action fights for lower assistance, TRUMP is presently trading at a market value of $0.00165 (representing a 24-hour modification of +33,992%).
This follows TRUMP token gone for an opening cost of simply $0.00002 at around 10AM (UTC) on March 10, nevertheless, cost action sparked in the 4th hour of trading, with cost rising a preliminary +6,500%.
Debt consolidation over the subsequent 3-hours here saw an assistance level developed around $0.0007, and this set the phase for a significant upside relocation as eagle-eyed Solana DEX traders flooded in to sign up with the emerging rally.
Increasing TRUMP rate action climbed up a more +700% to strike an all-time high at $0.005.
With early backers sat atop +50,000% gains, a sell-off set off, and retracement swept into the chart– sending out TRUMP token toppling -86%.
In a program of strength, the $0.0007 assistance level was effectively safeguarded by TRUMP holders, now setting off a possible 2nd rally leg.
The +130% bounce from assistance over the previous 3-hours has actually been buoyed up by strong buy-pressure (representing 63% of deals over the previous hour).
Whilst the retracement has actually left TRUMP now trading at a meagre $178k market cap that produces a window of chance for late entrants.
A fairly modest increase of trading volume at present levels might quickly move the TRUMP token on a 10x relocation from here, a typical incident in Solana meme coin markets, specifically as 441 holders hold strong into the bounce.
While TRUMP rate analysis uses a high-risk second-chance chance, larger gains might be more dependably discovered in Green Bitcoin ahead of the next halving occasion in April.
Discussed: Here's Why Green Bitcoin (GBTC) Will Outperform Bitcoin Gains in 2024
Bitcoin beta plays can be considered Bitcoin-linked tokens that crypto financiers relate to Bitcoin, yet, at relatively much more attractive market caps.
As crypto markets brace for the next Bitcoin cutting in half occasion, set to happen in late April 2024,
