The cryptocurrency market remains to be amazed. The TRUMP token – the official memecoin of the president-elect of the USA, Donald Trump – skyrocketed from the second it was launched.
TRUMP went from being price zero to having a market capitalization of $15 billion in simply over 24 hours.
In the meanwhile, memecoin ranks thirteenth by market capitalization:
As a aspect impact of TRUMP’s rise, the cryptocurrency solana (SOL) has skyrocketedwhich is the native token of the Solana community. That is the community during which Trump “inhabits.”
SOL is setting new all-time highsas could be seen within the following graph supplied by the CoinGecko platform:
You will need to point out that the RSI indicator (relative power index) is marking overbought ranges for SOL for the time being. That is interpreted because the rise being too fast. It might not be unusual to see bearish corrections within the subsequent few hours or days.
As CriptoNoticias has anticipated, excessive volatility is predicted within the cryptocurrency market as Donald Trump’s inauguration approaches, an occasion that may happen tomorrow, January 20, round midday.
In a context like this It’s vitally essential to have satisfactory threat administration to keep away from undesirable capital losses or, even worse, complete liquidations on account of buying and selling with leverage within the futures markets.
