While the entire crypto market remains in turmoil, all coins associated with President Trump are skyrocketing today for no apparent reason. Melania soared more than 54%, while Trump and World Liberty Financial’s WLFI both rose more than 20%.
The overall cryptocurrency market has cautiously recovered following important negotiations to end the ongoing US government shutdown. However, Trumpcoin, which has been stagnant until now, experienced a massive rally today, unlike other meme coins and speculative tokens.
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Do Trump insiders know something we don’t?
TRUMP and MELANIA were both launched earlier this year during Donald Trump’s inauguration as US president. However, both tokens have since collapsed, losing almost 100% of their peak value.
Most notably, both meme coins show clear signs of insider trading and market manipulation. Previous on-chain data showed that a single wallet controlled 89% of Melania’s supply.
Meanwhile, another Trump family-related DeFi project, World Liberty Financial, recently made WLFI tokens available for trading. Altcoin prices have been declining gradually, but today they have seen a sharp increase of 25%.
The exact reason for the sudden rise in Trump-related tokens is not yet known. Neither the US president nor his associated crypto ventures have made any announcements today.
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While World Liberty Financial has enhanced the utility of WLFI over the past month with new ecosystem features, TRUMP and MELANIA have not seen any meaningful recent developments.
Such an unpredictable pump in all Trump coins could suggest that insiders are accumulating large amounts of these tokens in anticipation of market-moving events.
However, leveraged traders are taking short positions in the expectation that prices will fall again after this temporary spike.
Both TRUMP and MELANIA have shown strong accumulation trends over the past 24 hours.
Political catalyst?
The only factor that could cause this sudden rise could be the expected reopening of the US government. Donald Trump recently struck an optimistic tone as the country faces the longest government shutdown in history.
Now, with the government set to reopen by Thursday, are Trump insiders expecting a wave of liquidity as bond money flows back into the market?
