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ONDO Price Hits $2.14: Did Trump-Backed WLFI Trigger the Rally?
The cryptocurrency market has been witnessing some intense price fluctuations lately, and one token that caught our attention is ONDO, which has recently hit an all-time high of $2.14. The sudden surge in its value has left many investors curious about the potential triggers behind this rally. One factor that cannot be ignored is the significant purchase made by World Liberty Financial (WLFI), a crypto project backed by former President Donald Trump.
According to Arkham Intelligence, WLFI acquired 134,216 ONDO tokens worth $250,000, which has had a profound impact on the market dynamics. The massive influx of funds has triggered an uptrend in the price, with ONDO’s value soaring to new heights.
The sudden spike is also reflected in its market capitalization, which has surpassed the $21.8 billion mark and witnessed a 2% gain over the past day alone. This trend indicates that there is growing interest among investors towards this asset, further solidifying the potential for future growth.
In technical analysis terms, ONDO’s recent rally seems to have reached an overly extended stage, with its Relative Strength Index (RSI) currently at 78. This could be a signal of impending overbought conditions and potential corrections in the price movement.
Source: coinpedia.org
