As a seasoned crypto investor, I’ve seen my fair share of market fluctuations and trends. The recent surge in presidential-themed meme coins, specifically MAGA (TRUMP) and Jeo Boden, has piqued my interest. These coins have skyrocketed in value within the past 24 hours, with gains of over 44% for MAGA and 22% for Jeo Boden.
In the past 24 hours, meme coins modeled after current American President Joe Biden and former President Donald Trump have seen significant increases in value. This surge can be attributed to Trump’s recent discussion of cryptocurrencies during his NFT (Non-Fungible Token) holders dinner.
According to data from CoinMarketCap, the value of MAGA (TRUMP), the meme coin inspired by former US President Donald Trump, surged by an impressive 44% or more. Likewise, BODEN, a cryptocurrency with a misspelled homage to current US President Joe Biden, experienced significant growth, rising by over 22%.
According to CoinMarketCap’s category for meme coins, the top three coins that experienced significant growth in the last 24 hours are as follows: Donald Tremp saw a remarkable rise of 122% followed by MAGA with an increase of 44%, and Jeo Boden gained 22%.
I’ve analyzed the market trends and found that while some cryptocurrencies have seen gains, Bitcoin (BTC) and Ethereum (ETH) haven’t fared as well. Specifically, Bitcoin was trading around $60,800 – a 2.4% decrease from the previous period. Similarly, Ethereum experienced a decline of over 1.4%, reaching approximately $2,950.
Following Trump’s announcement on Wednesday that he will accept digital currency for political contributions, there has been a surge in value for meme coins themed around the presidency.
Anonymous DeGods NFT owner Malcolm uploaded several videos on X in which the former president expressed his endorsement for cryptocurrency contributions to the group of NFT purchasers.
“During his speech, Trump assured his audience that he would help them out if they were unable to do something. Regarding cryptocurrency donations to his campaign, my findings indicate a affirmative response.”
BREAKING: DONALD TRUMP IS FINE WITH CRYPTO — Frank (33.3%) (@frankdegods) May 9, 2024
The announcement ignited a spike in meme coins influenced by Trump, highlighting the increasing connection between political campaigns and cryptocurrency.
Trump has been involved in various initiatives related to cryptocurrencies. He has provided NFT (Non-Fungible Token) cards on different blockchains. Furthermore, he has criticized Central Bank Digital Currencies (CBDCs), and his reported crypto assets amount to nearly $3 million.
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2024-05-09 18:28