OFFICIAL TRUMP spikes 25%, leads meme coin gains

$TRUMP, the official meme coin of Donald Trump led the recovery rally while Bitcoin (BTC) hovers around the $97,000 zone. OFFICIAL TRUMP price surged by 26% in the last 7 days reaching $23 which is just shy of its February peak.

The meme crypto category printed green indexes when the biggest digital assets like Ethereum (ETH) and BNB recorded a marginal decline. The cumulative meme crypto market cap surged by 4% over the last day to stand at $75 billion. Dogecoin (DOGE) and PEPE are managing to keep up the momentum as traders’ sentiments turn “Neutral”.

$TRUMP trading vol up by 297%

OFFICIAL TRUMP turned out to be one of the biggest gainers among the top 100 cryptos and led the meme coins’ upward rally. TRUMP price jumped by 25% in the last 24 hours. Its 24-hour trading volume is up by a massive 297% to stand at $7.35 billion. It is trading at an average price of $21.12 at press time.

As per the data shared by CoinGlass, $19 million worth of long and short bets set on TRUMP price action liquidated in the past 24 hours. More than $12.4 million worth of liquidated positions (65%) turns out to be short bets. This suggests that traders were expecting the official meme coin of Donald Trump price decline to continue. However, This rally follows weeks of decline since it went on to hit its all-time high of $75 on January 19. It is down by 71% from its ATH.

The massive surge comes in when the Trump family-backed World Liberty Financial bought another 52.07 Wrapped Bitcoin (approx. worth $5 million) and 2.53 million MOVE (approx. worth $1.4 million). Since November 30, World Liberty Fi has accumulated 63,030 Ether (approx. worth $210 million), 699 WBTC ($73.5 million), 40.72 million TRX ($10 million), and more.

DOGE and WIF show strength

The biggest meme crypto, Dogecoin has been dealing with the selling pressure over the past month. DOGE price dropped by 25% in the past 30 days, however, it gained 13% in the past 7 days. Its price surged by another 4% over the last 24 hours. DOGE is trading at an average price of $0.278 with a trading volume of $2.4 billion.

Dogwifhat (WIF), another dog theme meme coin, jumped by 3% in the last 24 hours, erasing all the losses recorded over the last week. WIF is trading at an average price of $0.706 at press time.

Official Melania Meme (MELANIA) has failed to perform a reversal like TRUMP. MELANIA price is down by another 5% on Saturday, adding to its decline of 81% since its launch. Meanwhile, its 24-hour trading volume skyrocketed 133% to hit $127 million. It trading at an average price of $1.36.

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