MOVE Jumps 12% as Trump-Linked World Liberty Financial Buys InLayer-2 token MOVE has surged 12% in the past 24 hours, making it the market’s top gainer. The rally follows news that World Liberty Financial, a Trump-backed DeFi platform, purchased $2 million worth of MOVE tokens on Tuesday.
Arkham Intelligence reports that the purchase was made in multiple batches, with the first transaction settling at 14:22 UTC. Just minutes later, at 14:48 UTC, a crypto account on X, DB, claimed that Movement is in discussions with Elon Musk’s Department of Government Efficiency (D.O.G.E). However, Movement’s co-founder Rushi Manche denied any official communication.
Despite the surge, bearish sentiment remains strong. MOVE’s funding rate has plummeted to -0.084%, its lowest since January 7, signaling increased short positions. Additionally, the token has seen consecutive spot outflows totaling $19 million, with another $440,470 exiting the market on Wednesday.
Profit-taking could erase MOVE’s gains, pushing it down to $0.71 or even $0.55 if support fails. Conversely, if demand surges, MOVE could break past $0.87 and head toward $1.08.
The question now: is this just a hype-driven pump, or can MOVE sustain its momentum?
