Trump Meme Coin Surges 15% in 24 Hours, Leads Crypto Market Rebound

TRUMP Tops Meme Coins with $1.50 Billion Trading Volume as Market Rebounds

The crypto market has witnessed a resurgence in trading activity, with the meme coin TRUMP leading the pack. The token, based on the Solana blockchain, has seen its value surge by nearly 15% in the past 24 hours, outpacing other top meme coins by market capitalization.

Technical indicators suggest that TRUMP's recent price rally may be sustained in the short term. The token's trading volume has climbed by 102% in the past 24 hours, reaching over $1.50 billion. This significant increase in trading volume, accompanied by a rise in the token's price, indicates strong market interest and investor confidence.

TRUMP's funding rate has remained positive despite recent market troubles. At press time, the funding rate is 0.0050%, suggesting that long traders are paying short traders, signaling a bullish market and more buying pressure than selling.

On a daily chart, TRUMP sits above a descending trend line that had kept its prices low since January 22. This breakout signals a potential reversal in market sentiment, indicating that the asset may be moving from a downtrend to an uptrend. If demand strengthens, the token's price could climb to $29.13.

However, if TRUMP traders resume profit-taking, the token could lose its recent gains and drop to $14.27.