The post Investors Bet Big on TRUMP Token Amid Trump’s Cryptocurrency Donation Acceptance appeared on BitcoinEthereumNews.com.

PoliFi Token Trump MAGA’s (TRUMP) surge creates instant millionaires, but risks loom for late investors. TRUMP token gains 90% in value due to speculative trading tied to Trump’s presidential campaign. TRUMP token sees a 14% spike after news of Trump’s campaign accepting cryptocurrency donations. The nascent PoliFi sector, a burgeoning intersection of politics, finance, and cryptocurrency, has minted a new class of instant millionaires. This rise coincides with the recent surge of a politically charged token themed after Donald Trump, named Trump MAGA (TRUMP). On-chain data provider Nansen reports a significant increase in the token’s value, potentially linked to speculative trading fueled by Donald Trump’s renewed presidential campaign activities. When we go through the top 10 onchain TRUMP buyers in the past 24 hours, we find that the majority of addresses have a low avg ROI and win rate, with many having bought TRUMP in the past but have yet to make significant profits This could mean these buyers are countersignals… pic.twitter.com/C2qZouBDV1 — Nansen 🧭 (@nansen_ai) May 21, 2024 Despite no official endorsement from former President Donald Trump, the TRUMP token has become a speculative play for investors wagering on the outcomes of his campaign. According to CoinGecko, the token’s value has skyrocketed nearly 90% in the past two weeks, with a notable 14% jump on Tuesday alone, following news that the Trump campaign would accept cryptocurrency donations. This embrace of cryptocurrencies in his campaign’s donation options, including Bitcoin and Ethereum, alongside meme coins like Dogecoin and Shiba Inu, has broadened the token’s appeal. As a result, early investors in TRUMP have witnessed astounding returns. Some have seen their holdings appreciate by over 1,600%, with at least one address now boasting tokens valued at over $5.5 million. The TRUMP token is the pioneer in what is now termed as PoliFi…

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Filed under: News - @ May 22, 2024 9:28 pm