In the past 24 hours, meme coins influenced by both current U.S. President Joe Biden and former President Donald Trump have seen significant spikes following Trump’s discussion about cryptocurrency during his NFT holders dinner.
CoinMarketCap data indicates that the meme coin MAGA (TRUMP), inspired by Trump, surged by over 44%. Similarly, BODEN (BODEN), a coin with a misspelled reference to President Joe Biden, saw an increase of more than 22%.
CoinMarketCap’s meme coin category page highlighted the top three gainers in the past 24 hours: Donald Tremp surged by 122%, MAGA increased by 44%, and Jeo Boden rose by 22%. In contrast, Bitcoin (BTC) traded around $60,800, marking a 2.4% decrease, while Ethereum (ETH) experienced a decline of over 1.4%, settling at approximately $2,950.
The surge in popularity of presidential-themed meme coins follows Trump’s announcement on Wednesday that he plans to start accepting cryptocurrency for campaign contributions.
In several video clips shared by Malcolm, an anonymous holder of DeGods NFTs, the ex-President can be seen addressing a gathering of NFT purchasers, voicing his endorsement for crypto donations.
“If it’s not possible, I’ll ensure it becomes possible,” Trump stated in his speech. “Is it feasible to contribute to the Trump campaign using cryptocurrency? I’m confident the answer is affirmative.”
The announcement sparked a rise in Trump-themed meme coins, underscoring the increasing overlap between cryptocurrency and political fundraising. Trump has engaged in various crypto ventures, such as releasing NFT cards on multiple platforms, criticizing CBDCs, and holding nearly $3 million in crypto assets.
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