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 value zero to having a market capitalization of $15 billion in simply over 24 hours.
In the intervening time, memecoin ranks thirteenth by market capitalization:
As a facet 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 might be seen within the following graph offered by the CoinGecko platform:
It is very important point out that the RSI indicator (relative energy index) is marking overbought ranges for SOL in the mean time. 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 anticipated 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 necessary to have sufficient threat administration to keep away from undesirable capital losses or, even worse, complete liquidations attributable to buying and selling with leverage within the futures markets.
