$TRUMP Soars 18% as Trump's Crypto Purchase Plan Ignites Market
US President Donald Trump's announcement to purchase a sizable amount of Bitcoin and other crypto assets has given the market a major boost.
The news lifted investor confidence, encouraging buyers to return and pushing up the price of Official Trump ($TRUMP), a memecoin that was one of the strongest gainers in the broader market recovery.
According to data from CoinGlass, $TRUMP reclaimed $1.40 and surged to $1.80 before retracing, ultimately trading near $1.64, up 17.6% over 24 hours with a trading volume that rose 325% to $397 million.
The increase in participation and fresh capital entering the market is reflected in the data, which also shows that Spot Netflow turned negative after its earlier spike, falling to -$1.6 million at press time.