TRUMP Price Soars 23% as Whales Buy In, Debut at Korea Blockchain Week Looms
TRUMP, a popular memecoin, has been on a tear lately, rising by over 23% in just one day. This surge pushed its weekly gains to more than 64%, and its daily trading volume skyrocketed by 166% to surpass the $1.06 billion-mark.
The TRUMP team is set to make its first conference appearance at Korea Blockchain Week, which could bring exposure to the Asian market and boost its trading volume even further.
According to Scott Melker, whales have been buying into TRUMP using leveraged long orders in the Futures market, with positions ranging from 10x to 50x magnitudes. However, traders should be cautious of leverage as it can amplify both gains and losses.
The memecoin's price has been trading between $2.16 and $2.90, and a breakout on either side of this range could determine its next move. The Awesome Oscillator is currently green, indicating that bulls are still present and may push the price up to around $3.68.
However, if TRUMP loses the horizontal level at $2.16 or the Supertrend support at $2.19, it could slide below $2.