Specific Group of Meme Coins Explode Following Donald Trump’s Recent Announcement
The post Specific Group of Meme Coins Explode Following Donald Trump’s Recent Announcement appeared on BitcoinEthereumNews.com.
TL;DR Donald Trump has shifted to supporting cryptocurrencies, aiming to make the US a global crypto leader if elected. His endorsement of a new crypto platform and rising political support could be among the reasons boosting the prices of several Trump-themed meme coins. Trump’s Latest Pro-Crypto Move One of the main US presidential candidates – Donald Trump – was among the biggest critics of the cryptocurrency industry years ago. However, several months back, he softened his tone, promising to let the industry thrive should he enter the White House as a winner. Specifically, Trump expressed his desire for the United States to become the global crypto leader and to establish a national strategic reserve of Bitcoin (BTC). He also pledged to increase the country’s BTC mining efforts and opposed the idea of creating a central bank digital currency (CBDC). Most recently, the billionaire endorsed a soon-to-launch cryptocurrency platform called “The DeFiant Ones.” “For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote. “It’s time we take a stand — together,” the post reads. Trump’s sons – Eric and Donald – have promoted the upcoming platform numerous times in the past weeks. The latter previously said that the family wasn’t introducing a meme coin but instead aimed to develop a solution that would rival the traditional banking system. Interestingly, the announcement was followed by a substantial price increases for some Trump-themed meme coins. MAGA (TRUMP) has jumped by 20% daily, Super Trump (STRUMP) has pumped by 10%, while Trump Mania (TMANIA) is up 8%. TRUMP Price, Source: CoinGecko Another factor that might have fueled a price rally for the aforementioned tokens is Trump’s rising support. According to Polymarket, the Republican candidate currently collects around 51% of the votes, while his main opponent has approximately…
Filed under: News - @ August 23, 2024 10:26 am