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PLUME crypto gathers steam for recovery with 28% gains since Monday – Details
The EVM-compatible blockchain Plume [PLUME] has been making a remarkable comeback as the token rallied by an astonishing 28% since Monday. This unprecedented surge is largely attributed to the recently announced partnership between PLUME and World Liberty Financial (WLFI), which could be a game-changer for the cryptocurrency.
On July 1st, the news of this strategic collaboration broke, sending shockwaves throughout the crypto space. The integration of WLFI’s USD1 stablecoin with PLUME’s on-chain stablecoin, pUSD, has sent a strong bullish signal to the market. This partnership, closely related to U.S President Donald Trump, is expected to accelerate the expansion of WLFI’s stablecoin and open up new avenues for market participants seeking institutional-grade real-world assets (RWA) finance opportunities.
As the news sunk in on July 2nd, PLUME responded with a day that saw it soar by an impressive 17%. With a modest market cap of $209 million, it wouldn’t take much capital to propel the price even further. This poses a warning for traders to be cautious and not attempt to call the top just yet or try to short the cryptocurrency.
On the chart, PLUME has successfully broken its one-day market structure, demonstrating bullish momentum. The 1-day internal structure turned green on July 1st, signaling a potential recovery trend. However, it is essential to note that PLUME’s previous price action remains bearish since May, indicating the possibility of further declines in the longer term.
For now, investors can take heart as the token shows signs of stabilizing and possibly even rallying further.
Source: ambcrypto.com
