- The political meme coin market saw a 2% uptick on Tuesday, September 17th, driven mainly by Trump-themed meme coins.
- These meme coins gained momentum following an interview where former President Donald Trump spoke positively about cryptocurrencies and criticized his political rival Kamala Harris.
- Significant gains were observed in coins such as maga (TRUMP), maga hat (MAGA), and doland tremp (TREMP), which all saw notable price increases.
Explore the latest developments in the Trump-themed meme coin market and their surprising rise in value.
Trump-Themed Meme Coins Witness Substantial Gains
The recent surge in Trump-themed meme coins can be attributed to former President Trump’s interview with his sons, where he discussed various political and financial topics. During the interview, Trump notably criticized his political rival Kamala Harris, labeling her a “Marxist Communist” and issued a cautionary statement that crypto startups could face dire consequences if he doesn’t win the presidency. This conversation resulted in a notable shift in the meme coin market.
Major Performers: TRUMP, MAGA, and TREMP Tokens
Following the interview, the maga (TRUMP) coin saw a remarkable rise of over 10% against the U.S. dollar. Similarly, the maga hat (MAGA) token experienced a 9.6% increase, while doland tremp (TREMP) climbed by 7.9%. Another Trump-related asset, super trump (STRUMP), recorded a 2.7% uptick. These significant gains highlight how political events and public statements by influential figures like Trump can impact digital assets.
The Role of Political Influences on Crypto Assets
This trend underscores the growing intersection between politics and the cryptocurrency market. Trump’s praise for cryptocurrencies and his ventures into non-fungible token (NFT) projects have reshaped his views on digital currencies, which in turn appears to influence market movements. Beyond Trump-themed assets, other politically affiliated meme coins also recorded gains. For instance, fight to maga (FIGHT) skyrocketed by 68% while maga again (MAGAA) advanced by 11%. Even meme coins tied to Trump’s political rivals like Kamala horris (KAMA) and jeo boden (BODEN) gained 3.4% and 4.9% respectively.
Conclusion
The noticeable rise in Trump-themed meme coins reflects the profound impact political discourse can have on the cryptocurrency market. While the durability of these trends remains uncertain, especially beyond the upcoming election, the growing nexus between politics and digital currencies suggests this niche market will likely continue to respond to political dynamics and statements from leading figures.
