"Altcoin Surge: TRUMP, VVV Defy Crypto Downturn"

Investors Rush to Catzilla and Other Altcoins as Prices Dip

As the cryptocurrency market experiences a downturn, with the market cap losing $125 billion over the last 24 hours, a few altcoins have defied the broader downtrend, attracting traders' attention with their price movements. Official Trump (TRUMP), a Solana-based meme coin linked to President Donald Trump, is one of the most searched altcoins today, following a double-digit surge in MELANIA's value over the past 24 hours, which has caused it to rank as the market's top gainer.

TRUMP trades at $18.33 at press time, registering a 6% price uptick in the past 24 hours. However, despite this rally, readings from its 12-hour chart suggest that bearish control over the meme coin remains significant. The Elder-Ray Index is at -7.09 as of this writing, indicating that sellers are in control, and the asset's price is likely to face downward pressure. Should this play out, TRUMP could shed its recent gains and fall toward $16.

On the flip side, if the bulls regain market control, they could propel the meme coin's value to $28.23.

Venice Token (VVV) is another trending altcoin today, with its price jumping 44% in the past 24 hours despite allegations of misconduct against its developer team. In a series of posts on X, analyst Ormu claims the team illegally issued themselves $5.7 million worth of VVV tokens after the Coinbase listing, raising transparency concerns. According to Ormu's analysis, the team allegedly sold $450,000 worth of these tokens via a fresh wallet linked to their multi-signature wallets.

However, these claims remain unverified as VVV notes a double-digit spike today. If the rally continues, the altcoin's price could touch $6.75. Conversely, a price correction could cause VVV to drop below $5 to exchange hands at $3.65.

Layer-1 (L1) coin SOL is also a trending altcoin today, trading at $205.13 at press time, recording less than a 1%