The price of the Super Trump (STRUMP) cryptocurrency has been pumping over the past day, rising from around $0.0021 to a peak of $0.0036 before retracing slightly. At the time of writing, STRUMP is trading at $0.03 and is up around 13% over the last 24 hours according to data from CoinMarketCap.
One potential catalyst for the price spike appears to be excitement and optimism surrounding recent announcements from the STRUMP development team. In a tweet, the @SuperTrumpCoin account stated that the team has “made a lot of BIG Connections in PARIS” ahead of the next bull run, and that they have been “invited to one of the Biggest Crypto EVENTS IN DUBAI!” The team also mentioned they will be traveling to the TOKEN2049 event in Dubai in the coming days and have received invitations to “a few side events by BIG PLAYERS in the field.”
Such promises of major upcoming events and connections with heavyweight players in the crypto space can often drive speculative buying interest and fuel a rally in the token’s price, at least in the short term. The specific details remain vague for now, but the implication of potential major partnership announcements or exchange listings is likely buoying investor enthusiasm around STRUMP’s prospects.
Is STRUMP Worth Buying Now?
As for whether the recent price surge makes STRUMP an attractive investment at this time, the analysis is mixed. The cryptocurrency only recently launched, so there is limited historical data to analyze longer-term trends and price trajectories. However, the charts show that STRUMP has been on a general downward path since early April, albeit with periods of stabilization around the $0.02 level.
If the bulls can continue defending that $0.02 support area, there could be further upside potential for STRUMP in the coming days, especially if the hinted “BIG” announcements from the development team materialize and live up to the hype. That said, there are no clear fundamentals driving this particular rally besides the teaser announcements from the team.
For investors, as with any speculative cryptocurrency investment, thorough research and a understanding of the project’s technology, use case, and roadmap is highly advisable before taking a position in STRUMP. The recent price jump may continue or swiftly reverse course depending on whether the promised upcoming events and connections deliver tangible positive developments for the project.
