TRUMP

MAGA

<p class="is-style-lead">The presidential meme coin fervour persists, with the MAGA/TRUMP token reaching an all-time high of $15.4 on May 29.</p> 
<p>TRUMP has been up 48% over the past week and 180% over the month, as per data from CoinMarketCap. However, at the time of writing, the memecoin was trading at $13.66, falling 10.6% from its all-time high. The token’s market cap has also fallen to $600 million.</p> 
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  <img loading="lazy" decoding="async" width="898" height="495" src="https://crypto.news/app/uploads/2024/05/TRUMP_1D_graph_coinmarketcap.png" alt="MAGA soars to all-time high, then recedes 10% - 24"> 
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  TRUMP 24-hour price chart | Source: CoinMarketCap
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<p>The recent surge in the MAGA token’s value follows several notable developments in the crypto space. On May 29, American media personality Caitlyn Jenner publicly<a href="https://x.com/Caitlyn_Jenner/status/1795556556173418559" target="_blank" rel=""> expressed her support</a> for the MAGA token on social media platform X.</p> 
<p>Additionally, reports indicate substantial whale-buying activity in recent months. Spot On Chain revealed that a trader had purchased over $1 million worth of TRUMP tokens shortly after Trump announced his re-election campaign last November. When the price hit its all-time high on May 29, these tokens were valued at over $15.7 million.</p> 
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   <p lang="en" dir="ltr">This trader betted on <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#MAGA</a> <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$TRUMP</a> and is actually winning big (x28)!<br><br>• spent 541K <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$USDT</a> to buy 1.079M <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$TRUMP</a>, a week after Donald Trump announced his re-run last Nov.<br><br>• firmly held <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$TRUMP</a> through the big pump in Apr (max profit if selling: $11M).<br><br>• now holds $15.7M worth… <a href="https://t.co/HbJpQTc5KP" target="_blank" rel="">pic.twitter.com/HbJpQTc5KP</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1795736848414937376?ref_src=twsrc%5Etfw" target="_blank" rel="">May 29, 2024</a>
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<p>There is speculation that this whale might sell its holdings soon following the recent price surge.</p> 
<p>Conversely, some whales have started selling their TRUMP holdings to capitalize on profits and invest in other memecoins associated with the former president. </p> 
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   <p lang="en" dir="ltr">Found something interesting <br><br>This wallet has been selling trump to buy <a href="https://twitter.com/search?q=%24Maga&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$Maga</a> and now has $700k of Maga and only 67k of trump. What do they know? <a href="https://t.co/vgKtkywnct" target="_blank" rel="">pic.twitter.com/vgKtkywnct</a></p>— Jason Cline 🚀 (@Jclineshow) <a href="https://twitter.com/Jclineshow/status/1795955215239200915?ref_src=twsrc%5Etfw" target="_blank" rel="">May 29, 2024</a>
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<p>Meanwhile, the recent surge in TRUMP <a href="https://crypto.news/donald-trumps-crypto-portfolio-exceeds-10-million-thanks-to-trump-coin-and-ethereum-surge/" rel="">has boosted the holdings </a>of the former president and leading Republican presidential candidate, Donald Trump, to <a href="https://platform.arkhamintelligence.com/explorer/entity/donald-trump" target="_blank" rel="">$7.89 million</a> as of Thursday.</p> 
<p>But MAGA (TRUMP) isn’t the only meme coin leveraging the former president’s name and brand. The Super Trump (STRUMP) token experienced a 53% increase over the past day, reaching $0.01545 per coin. This ERC20-based token also hit an all-time high of $0.02241 on MAY 29 but has since declined by over 31%. Another token, TRUMP’S HAT (MAGA), achieved its all-time high three days ago.</p> 
<p>At the 2024 Libertarian National Convention on May 25, Trump discussed several crypto-related topics, including support for self-custody rights, banning central bank digital currencies, and <a href="https://crypto.news/trump-pledges-support-for-silk-road-convict-while-calling-for-more-us-crypto-adoption/" rel="">advocating for the release </a>of incarcerated Silk Road founder Ross Ulbricht.</p> 
<p>Despite previously denouncing Bitcoin and other cryptocurrencies, Trump expressed a newfound “positive and open-minded” attitude towards the industry, indicating its growing significance in political discourse.</p> 
<p> Read more: <a href="https://crypto.news/trumps-return-could-mean-friendlier-crypto-laws-gop/" rel=""> A Trump re-election could mean ‘friendlier’ crypto laws, GOP lawmaker says </a> </p>

MAGA soars to all-time high, then recedes 10%

crypto.news

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