Spark (SPK) price just ripped over 90% in a day and printed a new all‑time high at $0.121 on July 23. The Ignition airdrop buzz is still lifting sentiment, but the short‑term charts are asking for one more clean push before price can extend.
The focus now is on whether supply is coming back to exchanges, whether momentum can actually beat its last peak, and where the next support will be. This matters for anyone tracking Spark Price action or the broader Spark Token narrative.
Exchange Inflows Say Profit‑Taking Risk Is Real
When a token nearly doubles in 24 hours, the first question is: Are holders starting to send coins to exchanges to sell? That is why the hourly netflow chart matters here.
SPK netflows have stayed positive through the run, which means deposits are still outpacing withdrawals while price is elevated.
Prices have already slipped a bit, so if inflows keep building, those extra coins on exchanges can become sell orders fast.
Netflow simply tracks tokens moving in or out; persistent inflows while price stalls usually hint that a pullback is on deck, even inside a bullish trend.
RSI Has to Lead for the Breakout to Stick
We analyse the 1‑hour Relative Strength Index (RSI) because this move is news‑driven and momentum shifts quickly at that scale. Plus, the hourly view can help foresee any trend before it moves to the daily or even the 4-hour timeline.
Last time, between July 21 and 22, RSI made a higher high right as price nudged up, and that alignment kicked off the bigger rally.
Right now, Spark Price is hugging the top of an ascending wedge, but RSI is stuck around 80 without taking out its last peak. Price zone is the same, but the momentum is weaker.
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If RSI cannot print a higher high with price, a dip is more likely to occur.
RSI (Relative Strength Index) scores the strength of recent moves from 0 to 100; when price is flat or rising but RSI fades, momentum is not backing the push.
SPK Price Action: $0.124 Is the Trigger
The upper edge of that wedge lines up almost perfectly with the 0.618 mark of a trend‑based Fibonacci extension near $0.124, giving a clean validation level for Spark Token traders.
SPK has failed there twice. It has already slipped from $0.117 to about $0.111, so $0.110 is the first level bulls need to defend.
Lose it, and price might gravitate to $0.101, the earlier swing high used to anchor the Fib.
Below that sits $0.087 (the 0 Fib line). The broader bullish structure survives above that zone, but if SPK breaks under it, $0.070 comes into play and the uptrend weakens.
Flip side: a clean hourly close above $0.124, with RSI breaking higher and hourly inflows cooling, would clear the path for continuation and another all‑time high in SPK Price.
Since US President Donald Trump assumed office, the Securities and Exchange Commission (SEC) has dropped, settled, or paused lawsuits against prominent crypto entities left and right. In stark contrast to the previous administration’s leadership under Chair Gary Gensler, the SEC seems to be parting from its previous crackdown on digital assets.
In an interview with BeInCrypto, Nick Puckrin, Founder of The Coin Bureau, and Hank Huang, Chief Executive Officer at Kronos Research, highlighted the substantial election influence the crypto industry had over Trump’s candidacy as a contributing factor to the SEC’s looser stance on crypto.
The SEC’s Approach Under Trump
The SEC has experienced a clear shift in its approach to crypto lawsuits under Trump’s presidency. Its move away from the aggressive enforcement tactics of its previous leadership has largely characterized this shift.
“When President Donald Trump won the US election, the crypto industry rejoiced. Finally, the ‘regulation by enforcement’ era, which the SEC under the leadership of Gary Gensler was so famous for, was about to come to an end. And the new administration didn’t disappoint. Within just a couple of weeks of Trump’s inauguration, the revamped SEC started dropping lawsuits against crypto firms left, right and center,” Puckrin said.
Two weeks ago, the SEC officially dropped its appeal and XRP lawsuit against Ripple Labs, ending a five-year legal battle. The Commission had originally accused Ripple of conducting an unregistered securities offering worth $1.3 billion through XRP sales.
“After more than four years in limbo, the SEC has officially decided that XRP is not a security (though what it is instead remains to be seen). This case has been weighing heavily on XRP – the fourth largest cryptocurrency with a market cap of roughly $130 billion– so its resolution is a major win,” Puckrin added.
The wider crypto community celebrated the outcome, with many arguing that it will set a precedent for how digital assets are classified in the US. This prediction is warranted, given that the SEC has been on a lawsuit-dropping spree.
The SEC has also dropped several ongoing investigations against OpenSea, Robinhood, Uniswap Labs, Kraken, and Gemini. It has also asked a federal court to issue a 60-day pause over its litigation against Binance. Meanwhile, the Commission settled its investigation into ConsenSys over its Ethereum software products.
These lawsuits surfaced in parallel to a series of crypto-friendly measures meant to foster greater innovation and curb potential regulatory suffocation that had existed during the Biden era.
Will New Leadership Define Clear Crypto Regulations?
A day after Trump assumed office, SEC Acting Chairman Mark Uyeda announced the creation of a dedicated crypto task force led by Commissioner Hester Peirce. The task force was reportedly designed to resolve long-standing ambiguities in the regulatory treatment of digital assets.
In all SEC crypto lawsuits, Commissioner Uyeda has implemented a strategy prioritizing industry engagement to develop regulatory frameworks that balance innovation and investor protection.
Meanwhile, Trump strategically nominated Paul Atkins, a crypto-curious, regulation-light candidate, to replace Gensler as head of the SEC. Just this week, the Senate Banking Committee voted to advance Atkins’ nomination to the full Senate.
Now, only a stone’s throw away from becoming SEC Chair, Atkins is expected to loosen regulatory oversight on crypto.
“With the establishment of a new Task Force and key appointees like Paul Atkins fostering innovation, Trump’s strategic move to create a Bitcoin reserve within the government further underscores his commitment to supporting the industry. The future of crypto regulations will be focused on less oversight and the beginning of a delicate but promising thaw in the regulatory landscape,” Huang added.
Though some say Trump’s handling of crypto affairs has resulted in a never-before-seen triumph, others are weary that his increasing involvement in the industry has turned out to be a recipe for disaster.
The Impact of Crypto Donations on Regulations
Several industry leaders went to great lengths to ensure that Trump became America’s 47th president. Millions of dollars in donations from crypto firms throughout Trump’s campaign illustrated these efforts.
According to a Public Citizen report, over $119 million from crypto corporations went into influencing the 2024 federal elections, largely through Fairshake, a non-partisan super PAC backing pro-crypto candidates and opposing skeptics.
Crypto corporations donated over $119 million to the 2024 federal elections. Source: Public Citizen
Coinbase and Ripple, among others who stand to profit, directly provided over half of Fairshake’s funding. The remaining funds mostly came from billionaire crypto executives and venture capitalists. Notable contributions included $44 million from the founders of Andreessen Horowitz, $5 million from the Winklevoss twins, and $1 million from Coinbase CEO Brian Armstrong.
So far, big crypto’s spending strategy is paying off with a more favorable environment.
Without a clear framework to guide the crypto industry following these dropped lawsuits, this lax approach risks being short-lived. Ultimately, this could tarnish long-term crypto adoption.
“Somehow, all these victories feel somewhat hollow after the reputation of the crypto industry has been tarnished by the billions of dollars in combined losses from meme coin scams. Meanwhile, Hayden Davis, the mastermind behind LIBRA, continues to launch fraudulent meme tokens, despite being on the Interpol wanted list,” he said.
A 2024 report by Web3 intelligence platform Merkle Science revealed that meme coin rug pulls cost investors over $500 million. The February LIBRA incident showed how this trend was carried over to 2025. Nansen data revealed that 86% of investors lost $251 million, while insiders pocketed $180 million in profits.
Though crypto scammers may be charged with related crimes like wire fraud or money laundering, rug pulling is legal. Better said, it’s unaccounted for. No regulation holds crypto insiders responsible for meme coin scams.
“As crypto becomes an ever more mainstream asset class, consumers need to be protected against those who choose to use it for nefarious purposes. One way to do this is through education, and that’s our job as an industry. But deterring scams and extractive behavior is the job of the regulators. And it’s time they stepped up to the task,” Puckrin told BeInCrypto.
If the SEC doesn’t take advantage of this opportunity to curb the consequences that meme coin scams can produce, it will result in an enormous setback for the industry.
Comprehensive Regulation Beyond Dropped Lawsuits
Puckrin illustrated the need for heightened regulatory clarity in crypto by drawing attention to the way the SEC penalizes insider trading in the context of traditional investing.
“In traditional investing, insider trading is a serious crime. In the US, it’s punishable by fines of up to $5 million for individuals and prison sentences up to 20 years. Similarly, federal penalties for engaging with illegal gambling activities include up to five years in prison. Perpetrators of memecoin scams must be punished with the same level of severity, because the result is the same: manipulating markets and cheating unsuspecting investors out of their savings,” he said.
Puckrin clarified, however, that the issue isn’t solely about penalizing fraudsters. Just as the SEC’s past overregulation hindered the industry, the current lack of meme coin rules creates an environment where new scams and exploitative schemes can easily flourish.
“Yes, the removal of lawsuits is great news for blockchain innovation, but something needs to replace it. Indeed, serious cryptocurrency firms have never advocated for an unregulated Wild West. What they want is clarity and rules that are fit for the nascent blockchain industry – not just a copy-and-paste of existing financial regulations that simply don’t work for crypto,” he said.
Although the Trump administration has only been in place for four months, the clock is ticking, and meaningful change takes time.
Unanswered Questions Loom
Puckrin expressed concern over the current administration’s prioritization of lawsuit dismissals instead of working faster to implement transcendental crypto regulation.
“My concern is that regulators will keep kicking the can down the road with crypto regulation, having gained the approval of the industry for dropping the many lawsuits that were stifling its growth. And this is incredibly dangerous,” he told BeInCrypto.
Meanwhile, critical questions that only the SEC can define remain unanswered.
“What are memecoins and who will ensure another LIBRA fiasco doesn’t happen? Are utility altcoins now commodities and if so, will the Commodities Futures Trading Commission (CFTC) regulate them? And, importantly, what do we do about compensating investors who have lost billions to crypto fraud?” Puckrin concluded.
The SEC’s current direction promises a regulated renaissance or a breeding ground for future crises.
With billions lost and critical questions unanswered, the future of crypto hinges on whether the regulatory body will translate its recent shift into a lasting framework that fosters innovation without sacrificing investor protection.
A recent announcement for the Private Dinner event for the top 220 holders of the TRUMP meme coin stated that if former President Trump does not attend, attendees may receive a limited NFT.
This has sparked speculation about the event’s true purpose. Could it ignite a new market wave?
New NFT Collection Launch at the TRUMP Gala Dinner?
According to official details from the TRUMP meme coin team, the Trump Gala Dinner is an exclusive event for the top 220 holders of the meme coin. It will be held at Trump National Golf Club in Washington on May 22, 2025.
However, organizers have noted they reserve the right to change the date and venue, raising questions about the event’s certainty.
More intriguingly, there’s uncertainty about Trump’s participation. Despite the event bearing his brand, terms state that Trump may not attend. If the dinner is canceled or Trump is absent, eligible TRUMP holders will receive a limited-edition NFT as compensation.
This has fueled speculation that Trump may use the event to launch a new NFT collection, building on his previous NFT ventures.
“President Trump may not be able to attend the TRUMP Gala Dinner. In the event President Trump is unable to attend the TRUMP Gala Dinner, or if the Gala Dinner does take place, then in our sole discretion, it may be rescheduled to another date, or TRUMP Meme holders who are qualified for the Gala Dinner and/or reception will receive a limited edition TRUMP NFT in lieu thereof,” the terms and coditions wrote.
He debuted his Trump Digital Trading Cards in December 2022, marking his entry into the crypto space. The first collection, featuring 45,000 NFTs, quickly gained traction due to Trump’s brand. It raised approximately 648 ETH, roughly $785,000 as per the ETH rate during the sale.
After that, Trump launched Series 2 of the Trump Digital Trading Cards. Trump’s second round of ‘Digital Trading Cards’ sold out quickly. However, not everything went smoothly.
The value of the original Series 1 collection took a significant hit. The rapid release of new collections raised concerns in the community about “value dilution,” diminishing the appeal of earlier NFTs.
According to OpenSea data, the total trading volume for Trump Digital Trading Cards reached 17,167 ETH, equivalent to tens of millions of USD—an impressive figure for an NFT collection.
Trump Digital Trading Cards collection. Source. OpenSea
By April 2025, CryptoSlam data shows the trading volume for Trump Digital Trading Cards dropped to just $2,000, a stark contrast to its peak.
Trump Digital Trading Cards sales volume. Source: CryptoSlam
The Trump Gala Dinner could have implications beyond TRUMP holders, potentially influencing meme coin and NFT markets. If Trump launches a new NFT collection and succeeds, it could reignite interest in celebrity-driven NFT projects.
Conversely, if the event flops or the new NFT fails to gain traction, it may deepen skepticism about the sustainability of meme coin and NFT ventures.
Shiba Inu trades price near $0.00001500, up about 8% this week and more than 30% this month, still below January’s $0.000024 peak.
Price keeps nudging higher, but one band keeps sending it back. To judge if this move can stretch, it helps to know if holders are really cashing out and whether momentum is actually building.
SOPR Is Flat Because Weak Holders Are Exiting at Break-Even Or Lower
Profit taking is what usually stalls a rally, so the Spent Output Profit Ratio (SOPR) matters here. SOPR shows if coins sold on-chain are in profit (>1) or loss (<1).
It is around 1.0 currently after weeks below that line. Back on April 30, SOPR dropped to roughly 0.72 when price was near $0.00001327. Price then climbed about 28% to around $0.00001700 while SOPR drifted back toward 1.0.
On June 16, SOPR sank even lower to about 0.69 with price near $0.00001188. Price later rose roughly 30% to about $0.00001546 and SOPR again moved toward 1.0. SHIB’s SOPR dipped again to 0.83 two days earlier. The corresponding price upside is still pending.
The data shows coins being spent are near break-even or at a loss, not big profit. Despite the price rise, it implies weaker hands are leaving quietly, thinning supply above.
Historically, real pullbacks started when SOPR pushed clearly above 1.0 while price stalled. That has not happened yet.
RSI Shows Buyers Gaining Strength Under the Surface
A move needs momentum to carry through, so the Relative Strength Index (RSI) is checked next.
RSI measures the strength of recent price moves on a 0–100 scale. Since mid-June, the daily RSI has made a small higher high, while the price has made a lower high. That bullish divergence says momentum is improving faster than price.
Even though the RSI divergence is barely there, it hints at growing momentum, positive for the Shiba Inu price action.
This means buyers are getting stronger even though the price has not broken out. If RSI keeps rising and price follows, the breakout chance increases. If RSI turns down while price stalls, the move can pause.
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Shiba Inu Price Levels Decide If the 45% Target Opens
Levels are needed to confirm what the indicators suggest. The main ceiling is $0.00001587, a level that has been rejecting the Shiba Inu (SHIB) price for a while now.
A daily close above $0.00001587 could push SHIB price to $0.00001746 (roughly 16% higher) and then $0.000022 (roughly 45% higher). However, SHIB price would still need to first cross above the psychological resistance of $0.000020 before heading higher, a 33% from the current level.
Note: Not many technical resistance levels exist once the Shiba Inu price manages to cross $0.00001746
On the downside, $0.00001463 is the first level to hold, followed by $0.00001375, the 0.5 Fibonacci level. The bullish view weakens fast if the price falls under these levels while SOPR jumps above 1.0. That would show profit sellers finally stepping in.
Fibonacci extension levels are used because they mark common pullback and target zones that traders act on.
