While many trades occurred, the market had a limited buffer to absorb large movements, making the token extremely volatile and susceptible to rapid price changes.

BAKKT's rapid rise reflects the crypto market's tendency to capitalize on headline-driven narratives. Trump's rumored involvement with the real Bakkt organization provided fertile ground for speculation.

Nonetheless, high trading activity and limited liquidity make BAKKT highly susceptible to sharp price swings, raising concerns about potential "pump-and-dump" schemes.

The BAKKT memecoin's dramatic pump follows a familiar pattern with other Trump-themed tokens.

Over the past several months, the crypto market has seen a surge of memecoins tied to the former president's public and business ventures, capitalizing on his influence and news coverage.

Tokens like "TRUMP2024," "Department of Government Efficiency," and other similarly-themed memcoins have attracted speculative interest, though many experienced wild price swings and short-lived hype cycles.