As TRUMP Token Shoots Up 10,000%, Wall Street Memes Could Be the Next Crypto to Explode – Here's Why
As former President Donald Trump reels following his surrender at the Fulton County jail, DEX market traders haven't missed out on the action - with the TRUMP meme coin exploding +10,000% in the wake of the news.
This comes amid the State of Georgia v. Donald Trump indictment case, which yesterday (August 24) saw Trump surrender to authorities in Georgia for mug-shot and paperwork processing.
Trump has already agreed to post bond to the tune of $200,000, and has stated he will refrain from antagonizing the situation on social media until trial.
And with DEX markets charged following the dramatic move, TRUMP token was an obvious choice for big gainers today.
In the aftermath of the sensational move, TRUMP token is currently trading at a market price of $0.05617 (a 24-hour change of +268%).
This comes as the TRUMP token enters a -42% retracement move, after rejection from a local high at $0.1.
The huge pump was triggered at 2:00AM on August 25, the same hour that Donald Trump tweeted the now iconic lizard-like mugshot.
Traction grew rapidly in the first hour of the pump, with the opening candle of the rally sequence demarcating a 400% gain - in a stunning climb from $0.01 to $0.045.
Eagle-eyed DEX traders, lured in by the sudden spike in trading volume rushed to get in on the action - and over the next 3 hours TRUMP price pushed up a further +200%.
This almost brings the rally gains to a shocking +10,000%, but as the saying goes - all good things must come to an end - and now TRUMP has already entered serious retracement.
The -42% drop from the local high appears to be consolidating above a key support level at $0.05 - and things could still bounce from here with buy pressure remaining strong at 56% of transactions in the past hour.
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