Political meme coins have seen a remarkable surge following Trump’s discussions about crypto during a dinner with NFT holders.
Inspired by former President Donald Trump, the Trump-themed meme coin, MAGA (TRUMP), experienced an impressive surge of over 44%.
Trump’s embrace of cryptocurrency extends beyond this announcement, with his recent ventures including the offering of NFT cards across multiple blockchain platforms and his vocal opposition to central bank digital currencies (CBDCs). Additionally, reports suggest that Trump holds close to $3 million worth of cryptocurrencies.
Similarly, Joe Boden (BODEN) coin, inspired by current President Joe Biden, saw its value surge by more than 22% within 24 hours.
CoinMarketCap’s meme coin market capitalization category highlighted the notable gains of these coins, with Donald Tremp soaring by 122%, MAGA by 44%, and Jeo Boden by 22% during the same period.
Meanwhile, traditional cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) witnessed minor declines, reflecting a shifting focus within the market.
The newfound momentum in presidential-themed meme coins followed Trump’s announcement of plans to accept cryptocurrency for campaign donations.
During his address to a group of NFT buyers, Trump expressed his openness to crypto contributions, stating, “If you can’t, I’ll make sure you can,” signalling a potential shift in political fundraising strategies.
