Surging Trump and Biden meme coins follow Trump’s meeting with NFT holders
Meme coins that draw inspiration from current U.S. President Joe Biden and former President Donald Trump have seen significant increases in value within the last 24 hours. This surge in popularity can be attributed to Trump’s discussion of cryptocurrencies during a dinner with NFT holders.
According to data from CoinMarketCap, the Trump-themed meme coin known as MAGA (TRUMP) experienced a staggering 44% increase in value. Similarly, Jeo Boden (BODEN), a coin that misspells President Joe Biden’s name, saw a rise of over 22%.
CoinMarketCap’s page dedicated to meme coin market capitalization highlighted the top three gainers in the past 24 hours: Donald Tremp with a surge of 122%, MAGA with a 44% increase, and Jeo Boden with a rise of 22%.
In contrast, Bitcoin (BTC) was trading at around $60,800, marking a 2.4% decrease in value over the same period. Ethereum (ETH) also experienced a decline, with a drop of over 1.4% to approximately $2,950.
The recent rally in presidential-themed meme coins follows Trump’s announcement on Wednesday that he plans to accept cryptocurrency as campaign donations. In various video clips shared on X by an anonymous DeGods NFT holder named Malcolm, the former President expressed his support for crypto donations, stating, “If you can’t, I’ll make sure you can. Can we donate to the Trump campaign using crypto? I believe the answer is yes.”
This announcement has fueled the surge in Trump-inspired meme coins, highlighting the increasing convergence between cryptocurrency and political fundraising. Trump has been involved in various crypto-related ventures, such as offering NFT cards on multiple platforms, criticizing central bank digital currencies (CBDCs), and holding nearly $3 million worth of cryptocurrency.
Overall, the rise of these meme coins reflects the growing interest and adoption of cryptocurrencies within the political sphere.
