MAGA, FIGHT, and DJT surge as Trump’s crypto project announces WLFI token

Donald Trump-themed cryptocurrencies are on the rise after World Liberty Financial announced a new governance token.

Fight to MAGA (FIGHT) led the way with a massive surge of over 150%, taking its valuation to $10.3 million. TrumpCoin (DJT) also saw a strong rally, rising 28% to $0.00032, its highest level since August 7, with daily trading volume approaching $1 million. Meanwhile, MAGA (MAGA) is up 18% in the past day, with daily trading volume reaching $11.48 million.

All of these gains have helped push the total market value of politically themed tokens past $481 million. Meanwhile, the community sentiment around the tokens has also soared, according to Coinmarketcap data.

These tokens have been on the rise after Donald Trump’s crypto venture World Liberty Financial announced plans to launch a governance token called WLFI.

WLFI is declared a non-transferable governance token that allows holders to make suggestions and vote on platform-related matters. Approximately 63% of the total token supply is allocated to the public sale, 17% to user rewards, and the remaining 20% ​​to the team and advisors.

While the token’s launch date has not yet been announced, the project team confirmed that sales will be limited to accredited investors.

Despite the surge on September 17, politically themed tokens have been on the decline, with total market cap now down to $481 million.

These tokens tend to rise during election periods and have the potential to lose much of their relevance once the elections are over. Traders often refer to them as “event coins” because their prices are affected as the date of the relevant event approaches.

But in the short term, if Bitcoin (BTC) breaks past its previous highs, these coins could see further gains, as meme coins often thrive during Bitcoin bull runs. Factors that could push Bitcoin’s price even higher include potential Federal Reserve rate cuts, a weakening U.S. dollar, and an ongoing stock market rally.