The inauguration of Donald Trump as the 47th President of the United States is six weeks away. In this process, Trump continues his efforts to select people who will be with him during his presidency. This political change is triggering a massive rally in the crypto market that has been going on for weeks, and analysts predict that the markets may continue this rise for a long time. In this process, Trump-themed meme coins also found support with an increase in demand, but this increase is not continuous.
The Rise in Trump Meme Coins
With Donald Trump changing his perspective on the crypto industry, creators are releasing more Trump-themed meme coins. These coins can easily gain value on Trump-related news, and all major Trump meme coins are seeing increases today. For example, tokens such as MAGA, TRUMP and STRUMP attract attention.
MAGA coin is experiencing a significant rally, rising 81% on a weekly basis. Its value has increased by 10% in the last 24 hours and is now trading at $0.0001072, with a market capitalization of $41.84 million.
Crypto President Trump (TRUMP) token, which was launched three days ago, experienced a huge increase of 62809.24%. The token, which has increased by 519% in the last 24 hours, is traded at a value of $ 0.006784 and its market value is recorded as $ 568.02 million.
Super Trump Coin (STRUMP) is also following a significant rally. Today it is up 19% to $0.002448, giving it a market cap of $4.50 million. There was a 500% increase in trading volume.
Reasons for the Increase in Trump Meme Coins
Appointment of David Sacks
Trump’s appointment of David Sacks as White House AI and Crypto Czar is cited as the biggest reason for the rise of Trump-themed meme coins. Sacks boosts trust by showing interest in crypto regulations.
Pro-Crypto Management
The Trump administration has chosen crypto-friendly names like Paul Atkins for SEC Chairman. These appointments raise hopes that current policies hindering the growth of the crypto industry will change.
Rally and FOMO in the Crypto Market
Bitcoin $99,755.0Rising to $103,900.47, exceeding the $100,000 level and then experiencing a slight retreat, investors’ interest in Trump-themed meme coins increases. Trump’s congratulations on this success also has a positive effect.
This activity in the crypto market increased investors’ interest in Trump-themed meme coins. Trump’s pro-crypto policies and appointments create a positive backdrop for future value increases of these coins.
Donald Trump’s crypto-friendly appointments and the overall rally in the crypto market continue to increase the value of Trump-themed meme coins. Investors are hopeful that these coins can gain even more value in the future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
