- Meme coins depicting Donald Trump and opponent Joe Biden gained enormous traction the night after he met with owners of his NFT collection on Wednesday.
Following the meeting between former president Donald Trump and holders of his NFT collection, the popularity of election-themed meme coins featuring American politicians has skyrocketed overnight.
Doland Tremp (TREMP), a meme coin based in Solana that surged 155% in the last day, was leading the group at $0.69. MAGA (TRUMP), an Ethereum-based meme coin, increased in value by 42% over night to $6.11.
Conversely, Jeo Boden (BODEN), which is on the opposite side of politics, saw a much smaller 23.2% increase to $0.37. Even after Trump said, “I don’t like that investment,” during his Q&A session with owners of the Trump NFT collection, the meme coin featuring Joe Biden witnessed gains.
Prior to plummeting to their current market capitalizations of $246 million and $67 million, respectively, the BODEN and TREMP meme coins gained enormous notoriety earlier this year, rising to a market capitalization of $473 million and $83 million in April.
When Trump learned that a meme coin mocking his political opponent was valued at more than $240 million, he referred to it as a lot of money for a coin.
Because of their importance in news cycles, meme coins—cryptocurrencies based on online memes and current events—usually have significant volatility and little liquidity. The Spoderman meme, a sloppy Microsoft Paint character that showed up in a number of web comics, served as the original inspiration for the BODEN and TREMP meme coins, which are a part of the Spoderman Politicians series.
Trump greets NFT owners
At a late-night meeting with owners of his Trump Trading Card NFT collection at his Florida club, Mar-a-Lago, Trump promised to end his animosity toward cryptocurrency, which he said was driving out cryptocurrency companies from the United States.
The Democratic Party and U.S. Securities and Exchange Commission (SEC) chair Gary Gensler are “very much against” cryptocurrency, the former U.S. president and 2024 contender continued, “but I’m good with it.” The former president is currently mired in a series of criminal and civil legal matters.
Upon adding that he would accept cryptocurrency contributions for his campaign, Trump has somewhat reversed his position on the subject of cryptocurrencies. He stated that he was not a fan of Bitcoin and other cryptocurrencies when he was still in power in 2019, calling them “not money,” “based on thin air,” and “highly volatile.”
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
