Donald Trump

Trump Mania

Shiba Inu

Super Trump

TL;DR
<ul>
 <li>Donald Trump has shifted to supporting cryptocurrencies, aiming to make the US a global crypto leader if elected.</li>
 <li>His endorsement of a new crypto platform and rising political support could be among the reasons boosting the prices of several Trump-themed meme coins.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-08-trump-memes_cb-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Memes_CB.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="trump-s-latest-pro-crypto-move">Trump’s Latest Pro-Crypto Move</h2>
One of the main US presidential candidates – Donald Trump – was among the biggest critics of the cryptocurrency industry years ago. However, several months back, he softened his tone, promising to let the industry thrive should he enter the White House as a winner.
Specifically, Trump&nbsp;<a class="editor-rtfLink" href="https://cryptopotato.com/donald-trump-says-bitcoin-will-likely-overtake-gold-one-day-live-at-bitcoin-2024/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">expressed</a> his desire for the United States to become the global crypto leader and to establish a national strategic reserve of Bitcoin (BTC). He also pledged to increase the country’s BTC mining efforts and opposed the idea of creating a central bank digital currency (CBDC).
Most recently, the billionaire <a class="editor-rtfLink" href="https://x.com/DonaldJTrumpJr/status/1826598601897742600" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">endorsed</a> a soon-to-launch cryptocurrency platform called “The DeFiant Ones.”
<blockquote>
 “For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote. “It’s time we take a stand — together,” the post reads.
</blockquote>
Trump’s sons – Eric and Donald – have promoted the upcoming platform numerous times in the past weeks. The latter previously said that the family wasn’t introducing a meme coin but instead aimed to develop a solution that would rival the traditional banking system.
Interestingly, the announcement was followed by a substantial price increases for some Trump-themed meme coins. MAGA (TRUMP) has jumped by 20% daily, Super Trump (STRUMP) has pumped by 10%, while Trump Mania (TMANIA) is up 8%. 
<figure id="attachment_355553" aria-describedby="caption-attachment-355553" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-355553" src="https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price.png" alt="TRUMP Price" width="591" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price.png 852w, https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price-300x203.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price-768x520.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/TRUMP-Price-50x34.png 50w" sizes="(max-width: 591px) 100vw, 591px"></a>
 <figcaption id="caption-attachment-355553" class="wp-caption-text">
 TRUMP Price, Source: CoinGecko
 </figcaption>
</figure>
Another factor that might have fueled a price rally for the aforementioned tokens is Trump’s rising support. According to Polymarket, the Republican candidate currently <a class="editor-rtfLink" href="https://polymarket.com/event/presidential-election-winner-2024/will-donald-trump-win-the-2024-us-presidential-election?tid=1724399372207" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">collects</a> around 51% of the votes, while his main opponent has approximately 48%.
<h2 id="span-data-preserver-spaces-true-meme-coins-to-outshine-the-rest-of-the-market-span">Meme Coins to Outshine the Rest of the Market?</h2>
The meme coin niche has made waves during the latest bull run, with many tokens (including PEPE, WIF, FLOKI, BONK, and many more) charting new all-time highs earlier this year.&nbsp;
Crypto analyst Murad Mahmudov recently <a class="editor-rtfLink" href="https://cryptopotato.com/cult-meme-coins-will-outperform-this-market-cycle-analyst/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">predicted</a> that “cult meme coins” will continue outperforming the other crypto sectors until the end of the market cycle.&nbsp;
The X user made a list of the top 20 meme coins, excluding some of the largest ones like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI). He noted that the combined market capitalization of those tokens is just $8 billion, describing the figure as “effectively nothing in a world with over half a quadrillion in wealth.”
<blockquote>
 “I would not be shocked for Memes to hit $1T+,” Mahmudov stated.
</blockquote>
It is worth mentioning that Artificial Intelligence (AI) cryptocurrencies and Real World Assets (RWA) were also depicted as sectors that may thrive alongside meme coins.
The post <a href="https://cryptopotato.com/specific-group-of-meme-coins-explode-following-donald-trumps-recent-announcement/" rel="noopener noreferrer nofollow">Specific Group of Meme Coins Explode Following Donald Trump’s Recent Announcement</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Specific Group of Meme Coins Explode Following Donald Trump’s Recent Announcement

Table of Contents

CryptoPotato_News

Other articles published on Aug 23, 2024

MoonTaurus (MNTR) vs. Dogecoin (DOGE): Which Meme Coin Will Dominate 2024?

Tether Decides Against Launching Its Own Blockchain

Shiba Inu Beta Testing Starts as Shiba Eternity’s Closed Beta Launches

Sun Price Prediction: Tron Meme Coin SUN Surges 40%, But Investors FOMO Buy This P2E DOGE With Ti...

Analyst: ETH’s “Hate Rally” Could Spark a Rebound

China accessing high-level AI chips banned by the US: Report

Join our free newsletter for daily crypto updates!