The craze for presidential meme coins shows no signs of slowing down, as the token maga (TRUMP) reached an unprecedented high of $15.45 on Wednesday. This surge in value boosted the worth of Donald Trump’s TRUMP coins to a staggering $8.06 million on May 29. Furthermore, various crypto assets related to Trump are emerging, including one that utilizes Bitcoin’s Runes protocol for minting.
The popularity of Trump-themed meme tokens continues to skyrocket, with the meme coin known as maga (TRUMP) leading the way. On Wednesday, May 29, 2024, this coin peaked at $15.45 per unit. Currently, TRUMP is priced at $13.77, which is approximately 9% lower than its all-time high. As a result of this recent surge, the former president and 2024 candidate now holds assets worth $8.06 million.
However, maga (TRUMP) is not the only meme coin capitalizing on the former president’s name and brand. Another token called super trump (STRUMP) has experienced a 20% increase in value in the past day, now priced at $0.014 per coin. The ERC20-based STRUMP also reached an all-time high of $0.02298 on Wednesday, but it has since dropped by over 37%. Additionally, the ERC20 token maga hat (MAGA) achieved its own all-time high three days ago. Currently, MAGA is trading at $0.0005518 per unit, marking a 30% increase on Wednesday. However, it has fallen by more than 24% from its all-time high of $0.0007379 per unit.
As if three token projects were not enough, another mint utilizing the Runes protocol named MAGA•THE•DONALD•TRUMP, abbreviated as MTDT, is also gaining significant attention. On Wednesday, the Ordinals and Runes explorer platform Ord.io posted about MTDT on X. “Rune MAGA•THE•DONALD•TRUMP is now 88.4% minted out and is the 7th most minted Rune ever,” said Ord.io at 3:50 p.m. Eastern Time on May 29. The X account added, “36,521 mints are currently in the mempool and it will likely mint out in ~2 hours.” At present, MTDT, which is based on Runes, is the fourth most traded Runes token by volume on Okx’s Runes protocol marketplace. Each MTDT is trading at 5,150 satoshis ($3.46 per unit) as of 4:30 p.m. EDT. This puts MTDT’s market capitalization at $1.59 million.
It remains uncertain how these tokens will fare leading up to and following the 2024 election, depending on the outcome. Other meme tokens that leverage the names of Joe Biden and Robert F. Kennedy Jr. have also experienced success amidst the presidential meme coin frenzy. However, none have matched the impressive performance of TRUMP, which has seen a staggering 123,373% increase from its all-time low of $0.01136 per coin. Could this be an indicator of things to come in the election? Only time will reveal the answer.
What do you believe is fueling the recent surge in Trump-themed cryptocurrencies? Share your thoughts and opinions on this matter in the comments section below.
