Donald Trump-related meme currency is on the rise as his inauguration approaches

TL;DR

Coins like MAGA (TRUMP) and TRUMPCOIN have seen substantial growth, with the latter up 215% in 24 hours and up 560% this week. Trump Tokens Beat Traditional Meme Coins; DOGE rose 2%, while SHIB rose 3% in the last 24 hours. These tiles are headed north

Donald Trump won a remarkable victory in the US presidential election in November last year. He swept all seven key swing states and also won the popular vote against his primary opponent, Kamala Harris.

Trump’s inauguration is scheduled for January 20, after which he will officially become the 47th president of the United States. His rise to office appears to have already caused substantial price fluctuations in some cryptocurrencies, most notably meme coins linked to him.

The largest of its kind (in terms of market capitalization) – MAGA (TRUMP) – has risen by 20% on a daily basis, currently trading around $3.15 (according to CoinGecko data).

Super Trump (STRUMP), Super President Trump 47 (TRUMP 47), Moon Trump (TRUMP), Trumpe (TRUMPIE) and many more have also posted double-digit gains.

However, overshadowing all Trump-themed memes is the lesser-known MAGA: Fight for Trump (TRUMPCOIN). Its price has increased by 215% in the last 24 hours and a whopping 560% in the last week.

It’s important to note that Trump-related meme currencies were on the rise again before the presidential election. However, many of them experienced a substantial correction soon after the voting results. We have yet to see if this “selling the news” event will occur once Trump is sworn in on January 20th.

How are the leaders?

Trump-themed tokens have significantly outperformed some of the top meme currencies in the past 24 hours. The largest in terms of market cap, Dogecoin (DOGE), is up 2% daily and is currently worth approximately $0.39.

Meanwhile, some industry participants believe it could soon experience a major rally given Elon Musk’s involvement in politics. The Tesla CEO is set to head a newly created division called the Department of Government Efficiency (DOGE).

The agency will aim to reduce bureaucracy, cut unnecessary regulations and eliminate unnecessary spending within the US government. Its name and the fact that Musk is one of the most vocal proponents of the meme coin, however, have instilled enthusiasm among DOGE bulls.

Dogecoin’s biggest rival, Shiba Inu (SHIB), is up 3%, while Pepe (PEPE) has seen little to no volatility over the past day.

Those that have witnessed some withdrawals in the last 24 hours include Bonk Inu (BONK), dogwifhat (WIF), Fartcoin (FARTCOIN), Peanut the Squirrel (PNUT) and others.

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