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. in the market.

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.

According to data from the platform, the best performances in 24 hours include: MAGA (TRUMP), which soared by 50%; Turbo (TURBO) with an increase of 38%; Ponke (PONKE), which appreciated 12%; Myro (MYRO), which recorded 9% growth.

“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,” observed Saintly.

At the time of publication, the price of MAGA (TRUMP) was quoted at US$5.58, up 3.1% in the last 24 hours. In its weekly performance, memecoin showed significant growth, appreciating 23.8% in the last seven days.

Memecoins inspired by Trump and Biden show impressive gains amid market downturn

On May 9, meme cryptocurrencies that are inspired by former and current United States President Donald Trump and Joe Biden posted surprising 24-hour highs amid the broader market pullback.

The MAGA (TRUMP) memecoin, which is inspired by former President Trump, rose by more than 39% in the last day. Meanwhile, the cryptocurrency Jeo Boden (BODEN), a reference to the current president, appreciated more than 17%.

The three biggest gainers in the last 24 hours within the memecoin market were Doland Tremp (TREMP), which was up over 170% in this period, MAGA, which was up over 36%, and Jeo Boden, which was up 16.6%, according to the CoinGecko data.

The rise of this type of memecoin comes after Trump stated, on May 8, that he would guarantee that cryptos could be used in his campaign donations.


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 in or trading cryptocurrencies carries a risk of financial loss.


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