MOVE Price Gains Big After Trump-Linked Purchase—Will It Hold?
In the past 24 hours, the price of tokens on the 2nd (L2) tokens has soared by 12 %, making it the highest income of the market. This two -digit rally is supported by Donald Trump defi Platform World Liberty Financial acquired a MOVE token worth $ 2 million on Tuesday.
However, due to the continuous decoction bias for mobile, the rally may be short -lived. This is the reason.
In the purchase of Trump and purchase
On Tuesday, the DEFI platform world free finance supported by Trump’s family purchased $ 2 million worth $ 2 million Mobile tokenEssence According to Arkham Intelligence, purchases occur in Multiple batches In the morning in the United States, the first trading settled in UTC 14:22.
A few minutes later, at 14:48 UTC, this is the famous encryption account on X DB Report The movement is one of the blockchain networks discussed by the government efficiency (Doge) led by Elon Musk.
Even at Rushi Manche, the co -founder of the movement, clarified that the second layer of network did not conduct official exchanges or contacts with Doge, which also caused the value of MOVE to surge.
“A busy morning as usual, and thanks all the support of everyone. (I) I want to clarify that any content of the sports laboratory office or growth team has passed Duqi desk It is still the continuous discussion of the entire government: “Manche Write On X.
Mobile rally, but there is a trap
Mobile is currently better than The first 100 cryptocurrenciesIts price increase may not continue, because the data on the chain shows that the prejudice on it is still very large.
For example, its funding rate has fallen to the lowest level since January 7, which indicates that the demand for short positions has increased. When pressing, this is -0.084 %. The funding rate is a regular fee between permanent traders futures contract. It aims to keep the contract price consistent with the spot market.
Negative assistance rate means that short traders are paying long -term traders, which indicates that although the price rally is, the market sentiment is loser. This shows that this move rally is driven by short squeeze rather than strong organic demand, which is doubtful for the sustainability of the rally.
In addition, despite its price rally, MOVE continues to record the outflow. According to Coinglass, Altcoin witnessed a total of 19 million US dollars in four consecutive outflows.
As of writing this article, 440,470 US dollars in the mobile spot market on Wednesday showed that market participants are selling token to profit.
Mobile price prediction: profit may drag the token to a new low point
If the profit activity continues to exist, the mobile risk will reduce its recent returns. In this case, the price of the L2 token may fall to $ 0.71. If this support level cannot be maintained, it may further drop to $ 0.55.
On the other hand, if the actual demand for mobile peaks, it may lose more than $ 0.87 and climb to $ 1.08.
Exempt statement
and Trust project Guide, this price analysis article is only used for information purposes and should not be regarded as financial or investment proposals. Beincrypto is committed to accurate and fair reports, but market conditions may change without notice. Before making any financial decisions, be sure to conduct your own research and consult professionals. Please note, our terms and Conditions,,,,, Privacyand Exempt statement Updated.
