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TRUMP Memecoin Makes Waves in the Market — Is It Going to Be the Next Big Hit After PEPE?

2024-05-20 07:16:15

In 2023, the market cap of PEPE rose to as much as $4.5B, making it the third most popular memecoin in the crypto market after Dogecoin (DOGE) and Shiba Inu (SHIB). Notably, a new memecoin has just recently come into the limelight with a shorthand TRUMP and has already pumped more than 200%, raising many questions.

Did Donald Trump himself launch it? If not, then does the coin have any affiliation with him? Is it going to be the next PEPE? Let's find out all these answers besides some more interesting facts about this memecoin's price today.

Brief History and Background

Last year, we saw several memecoins came out and made waves in the market. This year, the market is again bombarded with various memecoins, but more aggressively than ever. Most of them are centered around either crypto celebrities or famous personalities in the real world.

One such public figure is Donald Trump, a former US president and current candidate for the 2024 presidential elections. Previously, we've talked about TREMP, which is also a memecoin that came this year and is centered around Mr. Trump. Though this memecoin pumped nearly 90%, if not more, after Mr. Trump's comments on cryptocurrencies in early May, its name busts the myth that it is nothing more than a joke around the former president.

On the contrary, TRUMP was issued almost a year ago in August. But it recently started catching the eyeballs of crypto users. However, the coin still has no affiliation with Donald Trump, nor does he issue it. In fact, he might not even be aware of it. 

This coin was released by an entertainment project called Maga, which also happened to be the original name of the cryptocurrency. So, TRUMP is just a shorthand ticker that can cause speculation among rookie traders. But the rising price of this memecoin is undoubtedly noteworthy, so let's have a look at that.

The Price of TRUMP Rise on CoinEx

The interesting thing about TRUMP is that it's trading at around $7.7 USDT at press time.

The interesting thing about TRUMP is that it's trading at around $7.7 USDT at press time. Now, this is obviously a much higher price than one could expect for a memecoin, especially after looking at SHIB, DOGE, PEPE, and even TREMP.

The chart shows that TRUMP is continuously on a hike in price. Ever since its launch, the coin has pumped more than 205%, which is massive. The all-time high of TRUMP was recorded on May 14 at around $9.902, which SHIB, PEPE, and DOGE can't reach, probably even in a million years.

Even the lowest price of TRUMP stood at $2.508, thanks to its limited supply of 47M coins. From this, 93.61% is in circulation, equivalent to a market cap of $353M+ at press time. Looking at the green candles it made in the last few days, the memecoin might further rise in price as:

  • the elections approach or
  • if Mr. Trump comments more on cryptocurrencies or
  • if he gets re-elected as president, which could turn out to be massive

At the same time, it's noteworthy to keep this speculation with a grain of salt, as memecoins don't generally have a real-life application or utility, which makes them not a sustainable choice in the long term. If you want to trade cryptocurrencies, the best place to find outstanding prices and volatility is CoinEx.


*This article does not constitute investment advice.

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