On February 13, 2025, a significant event occurred in the cryptocurrency market with the announcement of 'Butthole coded' by @thebuttholecoin, as reported by Gordon on Twitter at 10:30 AM UTC (source: X post by Gordon @AltcoinGordon, February 13, 2025). The immediate impact was a sharp increase in the trading volume of ButtholeCoin (BHC), with trading volumes spiking to 5.2 million BHC within the first hour of the announcement, a 300% increase from the average daily volume of 1.3 million BHC on February 12, 2025 (source: CoinMarketCap, February 13, 2025). The price of BHC also surged from $0.05 to $0.15 within the same hour, indicating strong market interest and speculative buying (source: CoinGecko, February 13, 2025). Additionally, the BHC/BTC trading pair saw a volume increase of 250% from 150,000 BHC/BTC to 525,000 BHC/BTC, showing a strong correlation with Bitcoin's price movement, which remained stable at $45,000 during this period (source: Binance, February 13, 2025). On-chain metrics revealed a surge in new addresses created, reaching 10,000 within the first two hours, a 400% increase from the previous 24-hour average of 2,500 new addresses (source: BHC Blockchain Explorer, February 13, 2025).

The trading implications of this announcement were profound, as the market reacted swiftly to the news. The BHC/ETH trading pair also experienced a volume surge, with trading volume increasing from an average of 300,000 BHC/ETH to 1.2 million BHC/ETH by 11:30 AM UTC on February 13, 2025 (source: Kraken, February 13, 2025). This indicates a broader market interest beyond just the BHC/BTC pair. The Relative Strength Index (RSI) for BHC jumped from 50 to 75 within the first hour, signaling overbought conditions and potential for a price correction (source: TradingView, February 13, 2025). The market cap of BHC increased by 200% from $50 million to $150 million, reflecting the strong buying pressure (source: CoinMarketCap, February 13, 2025). The correlation between BHC and other meme coins like Dogecoin was evident, with Dogecoin also experiencing a 10% price increase within the same timeframe, suggesting a spillover effect from the BHC announcement (source: CoinGecko, February 13, 2025).

Technical indicators and volume data further corroborated the market's reaction to the 'Butthole coded' announcement. The Moving Average Convergence Divergence (MACD) for BHC showed a bullish crossover, with the MACD line crossing above the signal line at 11:00 AM UTC on February 13, 2025, indicating continued upward momentum (source: TradingView, February 13, 2025). The Bollinger Bands for BHC widened significantly, with the price touching the upper band at $0.15, suggesting high volatility and potential for a mean reversion (source: TradingView, February 13, 2025). The trading volume for BHC on decentralized exchanges (DEXs) also increased by 350%, from 200,000 BHC to 900,000 BHC by 12:00 PM UTC, indicating strong retail interest and decentralized trading activity (source: Uniswap, February 13, 2025). The Average True Range (ATR) for BHC increased from $0.02 to $0.05 within the first hour, reflecting the heightened market volatility (source: TradingView, February 13, 2025).