Cryptocurrency analyst with the pseudonym Altcoin Sherpa recently revealed that the preparation and proximity to the presidential elections that will take place in the United States, scheduled for November, could drive the price increase of two memecoins.

The analyst shared an analysis on his official X account on May 9. According to the expert, meme cryptocurrencies MAGA (TRUMP) and Jeo Boden (BODEN) could experience outperformance driven by US election year excitement.

The TRUMP memecoin is inspired by former president Donald Trump, who is running once again for president in the USA. The BODEN meme was inspired by the current president, Joe Biden, who is in the race against Trump to be reelected to office and is a spelling error in his name.

“Current meme strategy for me: Concentration in 1 sector: US politics I own $TRUMP $USA and want to buy $BODEN. It should be the biggest narrative when the elections actually begin later this year. Trump will constantly be in the news and up to his normal antics. I also want to buy 1 strong big cap like $DOGE later, but I will be patient with that. I think it’s going to be crazy this year. I definitely think memes should be part of your portfolio. Fuck defi/L1s/metaverse/gaming/RWA. Memes should be at the top of your list when it comes to narratives/categories,” he wrote.

It is worth remembering that meme cryptocurrencies that are inspired by the former and current presidents of the United States, Donald Trump and Joe Biden, showed surprising increases this week amid the broader market downturn.

Memecoins show significant recovery; MAGA (TRUMP) takes off

In a recent development that has captured the attention of cryptocurrency meme enthusiasts, this type of coin has seen a significant rally in recent days, with the token inspired by former President Donald Trump, MAGA (TRUMP), taking off in price and rising to prominence. on the market recently.

According to a survey by cryptocurrency analytics platform Santiment shared on May 9, the top 50 memecoins collectively increased their market capitalizations by 10% last week as speculative cryptocurrencies and altcoins took advantage of the rally that began in the may.

“Much of the attribution for these latest memecoin surges goes to Donald Trump and his pro-crypto endorsements. As shown, mentions of Trump spiked near the local cryptocurrency bottom, along with Biden, whose traders fear anti-cryptocurrency policies,” noted Santiment.

At the time of publication, the price of MAGA (TRUMP) was quoted at US$5.40, down 4.1% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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