Trump-Linked Investment Sparks 12% Surge in MOVE Token

MOVE Token Surges Amid Trump-Linked Investment and Musk Rumors

The price of MOVE, a Layer-2 token, has surged by 12% over the past 24 hours, making it the top gainer in the market. This rally comes after World Liberty Financial, a crypto investment firm associated with Donald Trump, purchased $2 million worth of MOVE tokens on Tuesday. The purchase was made in multiple batches during the US morning hours, with the first transaction settling at 14:22 UTC.

Shortly after the purchase, a prominent crypto account on X reported that the Movement is one of the blockchain networks currently in discussions with the Elon Musk-led Department of Government Efficiency (D.O.G.E). However, Movement's co-founder, Rushi Manche, clarified that the Layer-2 network has had no official communication or contact with the DOGE.

Despite the clarification, the news has sparked interest in the MOVE token, leading to a spike in its value. The token's price increased from $0.71 to $0.88 before stabilizing at $0.80, fueled by a $2 million purchase from World Liberty Financial. This purchase pushed trading volume to $584 million in the past 24 hours and reinforced market interest in MOVE's bullish momentum.

World Liberty Financial has made substantial investments in MOVE, purchasing 2.397 million MOVE tokens in four transactions totaling $1.88 million, alongside other assets such as Ethereum. However, the firm's portfolio is currently at a loss of $21.78 million, largely driven by Ethereum's recent price performance.

Technical analysis points to bullish momentum for the MOVE token. The token has broken out of a falling wedge pattern, a bullish continuation setup, with strong trading volume signaling renewed interest and potential upward momentum. Indicators such as the 21-day moving average also confirm a shift from bearish to bullish sentiment, aligning with predictions of a continued price rally as MOVE consolidates gains above key levels.

Traders remain optimistic about short-term upward movement, with a target price near $1. The MOVE token's market cap now stands at $1.85 billion, reflecting the growing interest in the project and its ecosystem.