As an analyst with a background in political science and finance, I find the recent surge of Trump-themed meme coins, specifically Doland Tremp (TREMP) and MAGA (TRUMP), quite intriguing. The correlation between the former president’s campaign news and the subsequent price increase of these tokens is a fascinating intersection of politics and finance.
TL;DR
- The Donald Trump-themed meme coin Doland Tremp (TREMP) reached a new all-time high after positive news about the billionaire’s presidential campaign.
The former political leader has softened his stance on digital assets, describing himself as the candidate of the pro-crypto voters.
Another Trump-Themed Meme Coin Took off
On May 17, the cryptocurrency market is experiencing significant growth, with several major digital currencies like Solana (SOL), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) recording noteworthy price increases.
In contrast to the meme coin market as a whole, Doland Tremp (TREMP) has experienced significant growth. It surged by an impressive 60% within the last 24 hours, reaching a new peak price of $1.07 according to CoinGecko’s records.
The significant rise of the token is coinciding with important news regarding the ex-US president’s campaign. The billionaire, who intends to run against the current US president, Joe Biden, in November’s presidential elections, has allegedly taken the lead in the competition.
Multiple reports indicate that Trump holds the lead in five key battleground states: Pennsylvania, Arizona, Michigan, Georgia, and Nevada. At present, Biden currently enjoys a stronger position only in Wisconsin.
In every US presidential election, swing states hold significant weight due to their lack of allegiance to either the Republican or Democratic parties. These states have the ability to be won by either party.
As an analyst, I’d rephrase that as:
Trump denied the allegations, while recently, his defense pressed the attorney on his criminal history and past lies. Cohen admitted to lying under oath when he pleaded guilty to federal charges, including tax fraud.
Trump’s Pro-Crypto Move
As a researcher studying the intersection of politics and finance, I’ve come across Trump’s stance towards cryptocurrencies during his tenure as the 45th President of the United States. He was known to be critical of the digital asset industry, dismissing Bitcoin and other cryptocurrencies as being “based on thin air.” His disapproval continued with him labeling Bitcoin a “scam” in the following years. However, there have been signs of a shift in his perspective more recently in 2024. He has started to express a more neutral stance, acknowledging that he can “live with” the primary cryptocurrency.
“You understand that regulation is necessary, but there’s a growing acceptance of it. More and more, people are choosing to use ‘bitcoin,’ and this trend is intriguing to me. Ultimately, I can adapt to either scenario.”
Previously this month, Trump stated that he is the preferred candidate for supporters of the digital asset sector. He further remarked that his rival, Joe Biden, and his team hold an unfavorable stance towards this financial asset class.
“I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you like crypto in any form (and it comes in many different forms), if you are in favor of crypto, you better vote for Trump.”
As a researcher observing the cryptocurrency market, I noticed that the price of MAGA (TRUMP), a meme coin related to him, experienced a significant surge following his recent comments. Within the past week, this token reached an unprecedented peak, surpassing $10 on May 16 and setting a new all-time high.
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2024-05-17 14:18