Cryptocurrencies display remarkable recoveries as Bitcoin approaches the sought-after $90,000, hovering near $88,349 at press time.
However, meme tokens remain in the spotlight due to their diverging performances.
Whales appear split on Official Trump, with Meteora purchasing the dip as Binance dumps.
Meanwhile, the presale project CartelFi experiences robust investor interest, with $1,055,108 raised.
Let’s explore the themed crypto sector and what to anticipate in the near term.
TRUMP Coin drama: Meteora dip buys as Binance quits
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Official Trump displays bullishness after gaining over 1.5% in the previous 24 hours to trade at $8.45.
While the 40% surge in daily volume signals renewed trader interest, the alt’s near-term actions remain uncertain amid a tug-of-war by whales.
Leading entities Binance and Meteora, each boasting a substantial amount of Trump tokens, have showcased opposing stands.
Data from Arkham shows Meteora saw a negative $1.84 million in TRUMP’s exchange netflows.
That confirmed a significant accumulation, bringing its TRUMP balance to $121 million.
Such events underscore trust in the meme asset’s performance in the upcoming sessions.
However, further details reveal an opposing move from Binance.
The leading exchange recorded $2.04 million in positive TRUMP netflow, suggesting sell-offs.
Nevertheless, Binance remains the second-largest TRUMP holder, with tokens worth around $227 million.
Surprisingly, retail players on Binance remain bullish, confirmed by the soaring open interest and funding rates.
TRUMP’s Open Interest on Binance increased to $95.42 million as Funding Rates reached 5.1%.
That signals bullishness among traders as they anticipate upward price moves.
Indeed, TRUMP trades at a crucial juncture, ready for a move in either direction.
The alt’s liquidation heatmap indicates liquidity above and below the current price, presenting mixed signals.
Nevertheless, the daily chart offers a clearer picture.
The latest rally saw TRUMP breaking out of a descending channel, suggesting continued gains.
However, overcoming the $8.729 resistance remains essential to solidify TRUMP’s momentum.
Such a move could trigger surges toward the supply region at $10.707 – $12.365.
Magnified bull action at this range could catalyze solid rallies to $17 before exploding to $24.
CartelFi thrives on magnified investor interest
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While most cryptocurrencies contemplate decisive directions, the cartel-themed yield farming project CartelFi stood out.
The protocol witnessed massive interest during its ICO, raising more than $1 million from savvy investors.
CartelFi has attracted investors as it aims to address a key challenge within the meme crypto space.
Its meme-centric staking and liquidity pools turn idle meme tokens into money-generating tools, unlocking and unleashing massive capital into the decentralized finance (DeFi) world.
The Whitepaper reads:
With tens of billions in meme coin market cap currently sitting dormant in wallets, CartelFi activates this capital, turning idle speculation into active accumulation through the first-ever yield system built specifically for meme assets.
Moreover, CartelFi distinguishes itself from standard DeFi networks with its deflationary mechanisms.
The project uses fees to burn CARTFI coins, translating to continued earnings 24/7.
The altcoin trades at $0.0352 per token – a lucrative discount as it targets 1,000x growth after its official launch.
You can learn more about CartelFi via their website.
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