Former U.S. President and presidential candidate Donald Trump has pledged to become “the crypto president” if re-elected. He vowed to terminate the anti-crypto policies introduced by Joe Biden and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, emphasizing that their policies “will grind to a halt within one hour of a second Trump administration.” […]
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Standard Chartered Predicts Bitcoin to Hit $100K Pre-Election, $150K if Trump Wins
Standard Chartered expects bitcoin to climb to 0,000 as the U.S. presidential election approaches and potentially reach 0,000 if former U.S. President Donald Trump wins. The bank’s head of digital asset research cites Trump’s perceived crypto-friendly stance as key for this bullish outlook for bitcoin. Trump’s administration is seen as fostering a supportive regulatory environment, […]
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UBS Raises Gold Price Targets, TRUMP Coin Hits All-Time High, and More — Week in Review
UBS has raised its gold price forecast from rising central bank demand and geopolitical tensions. Meanwhile, the meme coin TRUMP surged over 30% in 24 hours after former President Trump’s appearance at the Libertarian National Convention, marking a 98,352.40% increase over the last year. President Biden faces a deadline to veto or sign a resolution […]
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Elon Musk Says Crypto Can Shift Power From Government to the People, but Denies Discussing Crypto With Trump
Tesla and Spacex CEO Elon Musk has debunked reports claiming that he advised former U.S. President Donald Trump on cryptocurrency. While stating that he is pretty sure he has not discussed crypto with Trump, Musk said crypto can “shift power from the government to the people,” and he is generally in favor of it. Musk: […]
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Pepe, Super Trump, Brett, WienerAI Lead May’s Top Meme Coin Gainers
Meme coin season is back in full swing as Pepe, Super Trump, and Brett experienced huge gains in May. Meanwhile, the new presale crypto WienerAI is emerging as a top prospect as its total raise surges toward .5 million. Are these meme coins set to continue their growth into June? PEPE, STRUMP, BRETT Bullish as […]
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Trump Interested in Using Bitcoin to Solve the US National Debt Problem
Former President and Republican Presidential Candidate Donald Trump reportedly inquired about solving the U.S. national debt problem using bitcoin. Audio recorded by the Bitcoin.com News team confirmed that on an X space held on Sunday night, Bitcoin Magazine CEO David Bailey revealed that Trump asked if bitcoin could solve the trillion U.S. national debt […]
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Political Memecoin Mania: Super Trump Token Explodes With 200% Surge
Cryptocurrencies linked to former US President Donald Trump have seen a meteoric rise over the past week, reflecting a growing speculative fervor around politically-charged “memecoins” in the digital asset space.
The most notable gainer has been the “Super Trump” (STRUMP) token, which rallied by over 200% on May 29th alone, making it one of the top trending cryptocurrencies on CoinMarketCap.
The memecoin, which first debuted on Ethereum in March, has seen its fortunes change dramatically since launching on the Solana blockchain just last weekend.
Crypto analyst Tyler, who has been closely watching the space, noted:
“We are not even 24 hours past the #SUPERTRUMP launch on #SOLANA and already have great support around 4 million MC. Almost 1 million in volume and up 485.970%!”
Political meme coins stay hot
In the past day:$TRUMP +20% to 0M$MAGA +20% to 0M$BODEN +25% to 0M$STRUMP (Super Trump) +186% to M
The TRUMP coin on ETH is clearly leading the way and is now the 8th biggest meme coin by mc.
Polifi has become too big to fade pic.twitter.com/J6onV5W9Vg
— TylerD (@Tyler_Did_It) May 29, 2024
Trump Memecoin And The ‘PoliFi’ Phenomenon
The STRUMP surge appears to be part of a broader trend within the so-called “PoliFi” (political finance) ecosystem, where tokens tied to prominent political figures and ideologies have gained significant traction among crypto investors.
Other Trump-linked memecoins, such as TRUMP, MAGA, and BODEN, have also recorded massive price spikes in recent days, with gains ranging from 20% to 350%. This rally has catapulted the original TRUMP coin to become the 8th largest memecoin by market capitalization.
The STRUMP project itself has emphasized its community’s deep dedication to the former president, claiming that 0.8% of its wallet is reserved for Trump. This signal of support seems to have resonated with the crypto crowd, many of whom view Trump’s pro-crypto stance as a positive driver for these types of digital assets.
STRUMP Loses Steam
However, the euphoria surrounding STRUMP and its peers has been short-lived, as the memecoins have since lost steam following their recent record highs. As of press time, STRUMP was trading around .006, roughly 50% below its peak price of .012 reached earlier this week.
This volatility underscores the inherent risks and speculative nature of the memecoin market, where prices can fluctuate wildly based on social media trends, influencer endorsements, and other ephemeral factors.
The long-term viability of these tokens remains uncertain, as regulatory scrutiny and broader market conditions could significantly impact their performance.
Investors Bring Ideologies To The Blockchain
The resurgence of Trump-linked memecoins reflects the continued fascination with the former president’s brand and the growing influence of politically-motivated investors in the cryptocurrency space.
While these digital assets have captivated the attention of speculators, their dramatic price swings serve as a cautionary tale for those seeking to capitalize on the “PoliFi” phenomenon.
Featured image from iPic.Ai, chart from TradingView
TRUMP Coin Reaches All-Time High as Trump-Themed Cryptos See Major Gains
The presidential meme coin fervor persists, with the token maga (TRUMP) hitting an all-time high of .45 on Wednesday. This surge elevated the value of Donald Trump’s TRUMP coins to .06 million on May 29. Additionally, various Trump-related crypto assets are emerging from the woodwork, including one leveraging Bitcoin’s Runes protocol for minting. Trump-Themed Meme […]
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Trump Inquired if Bitcoin Could Aid in Solving the $35 Trillion US National Debt Problem
David Bailey, CEO of Bitcoin Magazine and a cryptocurrency aide of the Trump campaign, revealed that the former president asked if Bitcoin could be leveraged to solve the U.S. national debt problem. During an X space on Sunday night, Bailey revealed that the first time he met Trump, he asked if Bitcoin could do anything […]
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Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin, Free Ross Ulbricht
Presidential candidate and 45th U.S. President Donald Trump has declared support for the crypto sector. “I will also stop Joe Biden’s crusade to crush crypto,” he promised. “I will support the right to self-custody.” He will also “commute the sentence of Ross Ulbricht to a sentence of time served.” Moreover, Trump stressed, “I will keep […]
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