A specific group of coin memes are exploding after Donald Trump’s recent announcement

TL;DR

Donald Trump has moved to support cryptocurrencies, aiming to make the US a world leader in cryptocurrencies if elected. His endorsement of a new crypto platform and increased political support could be among the reasons for a rise in the prices of several Trump-themed meme coins. Trump’s latest pro-crypto move

One of the main candidates for the presidency of the United States, Donald Trump, was one of the biggest critics of the cryptocurrency industry years ago. However, a few months ago, he softened his tone, promising to let the industry thrive if he entered the White House as the winner.

Specifically, Trump expressed his desire for the United States to become the world leader in cryptography and establish a national strategic Bitcoin (BTC) reserve. He also pledged to increase the country’s BTC mining efforts and opposed the idea of ​​creating a central bank digital currency (CBDC).

Most recently, the billionaire endorsed a soon-to-be-launched cryptocurrency platform called “The DeFiant Ones.”

“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote. “It’s time to take a stand, together,” the post says.

Trump’s sons Eric and Donald have touted the upcoming platform numerous times in recent weeks. The latter previously said that the family was not introducing a meme currency, but was aiming to develop a solution that would rival the traditional banking system.

Interestingly, the announcement was followed by a substantial increase in the price of some Trump-themed meme coins. MAGA (TRUMP) is up 20% daily, Super Trump (STRUMP) is up 10%, while Trump Mania (TMANIA) is up 8%.

TRUMP Price, Source: CoinGecko

Another factor that could have fueled a surge in the prices of said tokens is Trump’s growing support. According to Polymarket, the Republican candidate currently has about 51% of the vote, while his main opponent has about 48%.

Meme coins to eclipse the rest of the market?

The meme coin niche has been making waves during the last bull run, with many tokens (including PEPE, WIF, FLOKI, BONK and many more) hitting new all-time highs earlier this year.

Crypto analyst Murad Mahmudov recently predicted that “cult meme coins” will continue to outperform other crypto sectors until the end of the market cycle.

User X made a list of the top 20 meme coins, excluding some of the bigger ones like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI). He noted that the combined market capitalization of these tokens is only $8 billion, describing the number as “effectively nothing in a world with over half a quadrillion in wealth.”

“I wouldn’t have been surprised if Memes hit $1 billion or more,” Mahmudov said.

It is worth mentioning that artificial intelligence (AI) cryptocurrencies and real world assets (RWA) were also represented as sectors that can thrive alongside meme coins.

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