The Official Trump (TRUMP) memecoin experienced a notable rebound, climbing 17.6% over a 24-hour period to trade near $1.64. The upward movement followed an announcement by U.S. President Donald Trump regarding plans to purchase a significant amount of Bitcoin and other crypto assets, which provided a broader boost to market confidence.
During the broader market recovery, TRUMP recorded some of the strongest gains among leading memecoins. The token reclaimed the $1.40 level and surged as high as $1.80 before retracing. Accompanying the price increase, trading volume rose 325% to reach $397 million, while the market cap reclaimed $400 million.
Market Activity and On-Chain Metrics
Data from CoinGlass indicated that spot netflow turned negative, falling to -$1.6 million. This negative spot netflow suggested that withdrawals exceeded deposits, which reduced the supply of tokens immediately available for sale and could help support gains if buyer demand persists.
Derivatives markets also saw increased activity as traders established new leveraged positions. Derivatives volume jumped 1,155% to $703 million, and open interest climbed 44% to $117 million. Additionally, the long/short ratio ticked up to 1.03, indicating a slight long bias across exchanges.
Technical Indicators and Outlook
Technical readings offered mixed signals regarding the sustainability of the rally. The Moving Average Convergence Divergence (MACD) formed a bullish crossover and climbed to 0.005, pointing to strengthening buying pressure. However, the Directional Movement Index (DMI) showed a +DI reading of 40 alongside an Average Directional Index (ADX) of 16, suggesting that while buyers held the advantage, the broader trend remained relatively weak.
Historically, past rallies driven by similar policy announcements have often been followed by sharp corrections, leaving market participants watching to see if current demand can outlast the initial news catalyst.
