The countdown for the understanding king's inauguration speech will begin at 1 AM on January 21. Yesterday, he launched his personal MEME coin, TRUMP, propelling this crypto understanding king into the spotlight…
Yesterday morning, the understanding king announced on his Truth Social account that he would launch his personal Meme coin, TRUMP. Within less than 30 minutes of opening, TRUMP's market cap had risen to about $700 million. The address holding the most tokens owns 80% of the total, and the top five holders own over 90% of the tokens.
Subsequently, the understanding king also retweeted this news on his X account, and the token's market cap then surged to $2.8 billion, with the price peaking at $34.6. In the evening, TRUMP's market cap briefly surpassed $30 billion, creating a miracle.
The understanding king's term is the best four years for crypto, but it is also a period of significant volatility, with risks and opportunities coexisting. During the previous term, the performance of major assets was as follows: Dollar: down 1.31% in the first three months, down 10.53% over four years; S&P: S&P 500 up 67%, Nasdaq up 138%; Gold: up 52%, commodities mixed; Crypto: BTC increased at least 50 times, from 735 to 35,000 (approximately).
However, this term has not yet begun, and the dollar DXY has risen 10%, with increasing uncertainty later on. BTC has risen from $69,000 to $108,000, a 60% increase. It is important to note that the understanding king is not a "puppet" in any sense; his policies are often unexpected and unpredictable, which also increases uncertainty in the financial markets.
Bitcoin
After breaking the W neckline on the daily chart, it closed with a doji star. After a short-term pullback to 102,277, it rebounded and is now fluctuating around 105,000. The area around 106,000 is where we previously mentioned the shark pattern at 0.886; if it breaks through effectively, we will look towards 1.13, which is around 110,000.
The understanding king's inauguration is expected to bring significant volatility, so everyone should pay attention to the market!
Support: Resistance:
Ethereum
The ETH/BTC exchange rate continues to hit new lows, and we shouldn't have too high expectations for it in the short term. As we mentioned yesterday, the strong remain strong, and the weak remain weak. Don't get too caught up in it, including many who say that the altcoin season is about to take off; for now, the understanding king has said that the altcoin season will at most be 20%-30% in 2024. The polarization of altcoins is inevitable; have you ever seen a financial market where everything skyrockets? Unless the exchange rate hits a bottom and rebounds to follow a trend, the effects may be better.
Support: Resistance:
SOL continues to hit new highs, with a rise of over 50% since the reminder on the 14th, and the SOL ecosystem JTO, JUP, RAY shows a rebound trend…
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This article is time-sensitive and for reference only; it will be updated in real-time.
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