MOVE Token Surges 20% After Trump-Linked Purchase Amid DOGE Discussions
The MOVE token of the Movement Ethereum layer-2 network surged following a $2 million purchase by World Liberty Financial, backed by Donald Trump. Key points include:
- MOVE price increased by up to 20%, settling at a 13% gain.
- Discussion rumors about Movement's involvement with the Elon Musk-led Department of Government Efficiency (DOGE).
- Rushi Manche, co-founder of Movement Labs, clarified that there have been no official talks with DOGE.
- World Liberty Financial's acquisition involved multiple transactions during U.S. morning hours, starting at 14:22 UTC.
- The token's open interest rose sharply from 44 million to nearly 55 million contracts on Coinbase before the price surge.
- Concerns arose regarding potential insider trading, though Manche denied any backdoor deals, stating it was market buying.
For further insights, see the related articles.