Memecoins
Cryptos and memecoins inspired by Trump and Biden – How are they doing today?
- TRUMP saw massive price hike as social attention grew
- However, the price of BODEN has dropped significantly over the past 24 hours.
The upcoming US presidential elections have seen many cryptocurrency traders and investors make massive profits over the past few months. In fact, memecoins such as TRUMP and BODEN have attracted considerable attention in the field in just a few days.
Donald Trump’s recent statements regarding cryptocurrencies could contribute to the performance of these memecoins.
The Trump card
The former US president has expressed his intention to accept campaign donations in cryptocurrencies. In videos shared by NFT creator and influencer Frank Degods, Trump can be seen assuring a group of his NFT buyers that he plans to facilitate cryptocurrency donations to his campaign. During the event, Trump highlighted his support for cryptos, contrasting it with President Joe Biden’s alleged lack of familiarity with the digital asset space. He urged crypto enthusiasts to support him, highlighting his commitment to the crypto community.
The remarks were reportedly made at a rally Trump hosted to meet and dine with buyers of his “Mugshot Edition” NFTs. Participants, who purchased more than 47 NFTs for $99 each, were invited to join Trump during a break in his trial.
Trump also boasted about his role in revitalizing interest in NFTs, stating that he made NFTs popular again.
When it comes to inquiries about the US crypto industry, Trump vowed to advocate for crypto businesses to remain in the country. He also expressed concern about the potential departure of cryptocurrency companies due to hostility from regulators and vowed to prevent such an exodus.
Looking at the data
At press time, TRUMP was trading at $5.87, with the price down 25.53% over the past 7 days. TRUMP’s popularity was reflected in the token’s social volume.
In fact, AMBCrypto’s analysis of Santiment data revealed that social volume around the TRUMP token has increased significantly over the past few days, indicating an increase in comments around the token on social media platforms.
Additionally, weighted sentiment around the token has also increased – a sign that positive comments about TRUMP outnumber negative ones.
Source: Santiment
BODEN, on the other hand, was unable to experience the same growth. Over the past 24 hours, for example, the token’s price has fallen by 10.97%.
These tokens are expected to experience more volatility until these elections are over.
Source: CoinMarketCap