As the broader cryptocurrency market recovers, memecoins are gaining momentum too—and the Official Trump (CRYPTO: TRUMP) token has outpaced some of the ecosystem’s established names.
TRUMP Gets the Better of DOGE and SHIB
As shown, Official Trump is up 57% since the start of the month, and most of that move happened in just the last seven days.
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), the two biggest memecoins by market capitalization, both lagged behind TRUMP coin, rising 24% and 7% respectively since August began.
TRUMP recorded a 57% jump in open interest over the past week to $188.72 million, as the token’s spot price momentum drove increased derivatives trading, according to Coinglass.
