The TRUMP token has delivered an extraordinary 37% surge in the past 24 hours, reaching $2.55 and extending its weekly gains to an impressive 80.3%. According to AMBCrypto, this represents a dramatic escalation from the previous 18% surge, with daily trading volume surging sixfold to 625% despite being a weekend when Spot volumes typically decline. The token's performance has been driven by U.S. President Donald Trump's announcement on Thursday, August 20, of plans to purchase a significant amount of Bitcoin and other crypto assets, which initially sent TRUMP to $1.865 on the day of the announcement before experiencing a minor setback. Since briefly dipping to $1.60, the memecoin has rallied by 60% and is now trading at $2.55, with the bearish long-term trend dating back to February 2026 being structurally breached in just days.
The cryptocurrency market experienced a dramatic surge driven by multiple regulatory catalysts, with Bitcoin touching nearly $75,000 overnight, its first approach to that level since June 2, before settling just above $69,000. According to latest reports, this rally was triggered by a Treasury bond buyback expansion, a new SEC crypto offering rule, and Trump's push for Congress to advance the Clarity Act, all landing within 48 hours. The Treasury announced on August 19 that it would at least double the size of its buyback operations for longer-dated Treasury securities, from a $2 billion cap to at least $4 billion per operation, effective September 9 through the current refunding quarter. Ether outpaced Bitcoin, surging past $2,250 and reclaiming ground it had not held since May, with a weekly gain of about 20%, the strongest among major tokens. Roughly $1.9 billion in liquidations were recorded over 24 hours, according to CoinGlass data, the large majority of them short positions caught on the wrong side of the move.
TRUMP has reclaimed $1.40 and surged to $1.80 before retracing, trading near $2.55 at press time. As reported by AMBCrypto, this represented a 17.6% increase over 24 hours in the previous session, with the current rally extending that momentum significantly. The token's performance was accompanied by significant increases in trading activity, with daily trading volume rising sixfold to 625% and market cap reclaiming $400 million. These increases reflected stronger participation and fresh capital entering the market during the recovery period, with trading in the iShares Bitcoin Trust ETF (IBIT) being more than 4.5 times the 30-day average even before Hyperliquid headlines as Treasury yields retreated.
The technical indicators present overwhelmingly bullish signals for TRUMP's continued performance. As reported by AMBCrypto, the OBV made multi-month highs, as did the Money Flow Index, with its overbought reading of 93.5, while the Directional Movement Index also showed a strong uptrend in progress. The 1-day timeframe's bullish swing structure break was not yet confirmed at the time of writing, with a daily session close above $2.38 needed to flip the structure. However, the Long/Short Ratio climbed to 1.03 and remained above 1 across exchanges, showing a slight long bias rather than overwhelming bullish positioning among traders. A deep pullback toward the $1.8-$2.0 area would be an ideal buying opportunity, given the bullish structure shift on the daily chart and recent momentum, though traders must remain cautious as there is a slight chance that the current rally would also be aggressively sold off, similar to the mid-March rally pattern.
