MOVE, the token of the Ethereum layer 2 network Movement, surged today after important developments related to Donald Trump and Elon Musk. The token's price soared by 20% to $0.89 before stabilizing at a 13% increase at the time of writing.

The chart shows the price volatility of MOVE after the developments.

This spike was triggered by World Liberty Financial, an organization backed by Donald Trump and his family, purchasing $2 million worth of MOVE tokens. Blockchain data from Arkham Intelligence shows that transactions occurred in several batches, with the first batch happening at 17:22.

Another rumor has surfaced supporting the rally. According to the rumor, Movement is among the blockchain projects being discussed with the Department of Government Efficiency (DOGE), led by Elon Musk. However, it is still unclear whether there is any collaboration with Movement.

This department is researching blockchain technology to improve the operations of the federal government, including tracking spending, securing data, managing payments, and overseeing infrastructure.

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