GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout
News

Political Memecoin Mania: Super Trump Token Explodes With 200% Surge

Cryptocurrencies linked to former US President Donald Trump have seen a meteoric rise over the past week, reflecting a growing speculative fervor around politically-charged “memecoins” in the digital asset space.

The most notable gainer has been the “Super Trump” (STRUMP) token, which rallied by over 200% on May 29th alone, making it one of the top trending cryptocurrencies on CoinMarketCap.

The memecoin, which first debuted on Ethereum in March, has seen its fortunes change dramatically since launching on the Solana blockchain just last weekend.

Crypto analyst Tyler, who has been closely watching the space, noted:

“We are not even 24 hours past the #SUPERTRUMP launch on #SOLANA and already have great support around 4 million MC. Almost 1 million in volume and up 485.970%!”

Trump Memecoin And The ‘PoliFi’ Phenomenon

The STRUMP surge appears to be part of a broader trend within the so-called “PoliFi” (political finance) ecosystem, where tokens tied to prominent political figures and ideologies have gained significant traction among crypto investors.

Other Trump-linked memecoins, such as TRUMP, MAGA, and BODEN, have also recorded massive price spikes in recent days, with gains ranging from 20% to 350%. This rally has catapulted the original TRUMP coin to become the 8th largest memecoin by market capitalization.

The STRUMP project itself has emphasized its community’s deep dedication to the former president, claiming that 0.8% of its wallet is reserved for Trump. This signal of support seems to have resonated with the crypto crowd, many of whom view Trump’s pro-crypto stance as a positive driver for these types of digital assets.

STRUMP Loses Steam

However, the euphoria surrounding STRUMP and its peers has been short-lived, as the memecoins have since lost steam following their recent record highs. As of press time, STRUMP was trading around $0.006, roughly 50% below its peak price of $0.012 reached earlier this week.

This volatility underscores the inherent risks and speculative nature of the memecoin market, where prices can fluctuate wildly based on social media trends, influencer endorsements, and other ephemeral factors.

The long-term viability of these tokens remains uncertain, as regulatory scrutiny and broader market conditions could significantly impact their performance.

Investors Bring Ideologies To The Blockchain

The resurgence of Trump-linked memecoins reflects the continued fascination with the former president’s brand and the growing influence of politically-motivated investors in the cryptocurrency space.

While these digital assets have captivated the attention of speculators, their dramatic price swings serve as a cautionary tale for those seeking to capitalize on the “PoliFi” phenomenon.

Featured image from iPic.Ai, chart from TradingView

Latest Press

post-thumbnail
News
1 hour ago
Venezuela’s Bitcoin Mining Crisis: Government Actions and Potential Gas-Powered Solutions
Venezuelan Bitcoin miners halt operations as government disconnects power, citing strain on national...
READ MORE
post-thumbnail
News
1 hour ago
Solana Faces Bearish Pressure Despite Bullish On-Chain Metrics: What’s Next for SOL’s Price?
The post Solana Faces Bearish Pressure Despite Bullish On-Chain Metrics: What’s Next for SOL’s P...
READ MORE
default post thumbnail
News
1 hour ago
DOGE To The Moon: This Dogecoin Metric Just Turned Bullish For The First Time Since 2020
Dogecoin (DOGE) is again in the spotlight as the foremost meme coin could be ready for takeoff. This...
READ MORE
default post thumbnail
News
1 hour ago
Lido (LDO) Poised For Explosive Surge To $17, Expert Forecasts ‘Massive Breakout’
Lido Finance, the liquid staking protocol for the Ethereum (ETH) network, has experienced significan...
READ MORE
default post thumbnail
News
1 hour ago
Curve Founder Faces Massive Blow As CRV Price Dives 40%, Multi-Million Dollar Liquidations
A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in sub...
READ MORE
default post thumbnail
News
1 hour ago
Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’
Despite the price crash after rising to $69,000, the Bitcoin price remains in the game, with bulls c...
READ MORE
default post thumbnail
News
1 hour ago
Bitcoin Stuck: Here Are 2 Things That Must Happen For BTC To Break $72,000
At spot rates, Bitcoin is firm, but traders doubt the uptrend following the unexpected dump on June ...
READ MORE
default post thumbnail
News
1 hour ago
Memecoin Fight: DADDY Surpasses MOTHER Despite Insider Trading Activity Allegations
The celebrity memecoin mania has added a new player with the recently launched Daddy Tate (DADDY). T...
READ MORE
post-thumbnail
News
1 hour ago
These Altcoin Projects Have Raised the Most Capital in 2024
In 2024, several altcoin projects have secured substantial funding, showcasing growing investor conf...
READ MORE
default post thumbnail
News
1 hour ago
Paxos Reportedly Downsizes Workforce by 20%: Details
Stablecoin issuing company Paxos has laid off 20% of its workforce, decreasing its employee count by...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started