Home
News
The Trump coins have gained massive popularity recently after the surge in price as well as the market cap getting close to $500 Million.
Memes have become an essential part of the crypto ecosystem because so many assets rely on trends. Memecoins, also known as “sh*t coins,” started as a satirical joke but now attracts serious traders.
The PoliFi movement is being led by tokens such as MAGA Coin (TRUMP). This relatively new token, which was launched in August, aims to draw attention, attract investors, and make a difference through charitable work.
Trump Coins Gaining Popularity
Trump coins have quite a few cryptos on them, one of them as discussed above is MAGA coin (TRUMP), and another is FREE TRUMP. This has become particularly popular among social media and fringe news sites, which sometimes advertise it as a type of cryptocurrency that will soon be worth thousands.
The coin has a shiny silver base with Mr. Trump’s face embossed in gold. Despite its popularity, the origins of the coin are mysterious.
What is the PoliFI Movement
Meme coins are commonly associated with dog memes or other harmless cultural icons. However, with the upcoming presidential election, the crypto community is attempting to blend memes, cryptocurrencies, and politics to create a new asset category known as “PoliFi.”
Trump Coins and Their Primary Objectives
Investors in TRUMP will not receive much actual value from the token, but it will donate a fraction (0.4%) of the total token supply to various charities, including Veterans for Child Rescue and National Veterans Homeless Support. The token’s primary objective is investment. Traders are using it as a sort of proxy for betting on Trump’s campaign trail.
Steven Steele, the project’s marketing director, stated It has developed into this kind of informal betting market on the election for many investors. This also implies that not all of TRUMP’s investors are die-hard MAGA supporters. They may simply be looking to profit from token price fluctuations.
The token’s price rose as Trump won more primary victories, increasing from less than $3 on Februrary 22 to a high of $11.56 on March 4. This represented a rise of over 300% in less than two weeks.
At its peak, the market cap surpassed $480 Million and was ranked among the top 160 cryptocurrencies in terms of market capitalization. The crypto enthusiasts are very optimistic about this and are looking forward to a $500 Million market cap mark
Certain online investigators have attempted to reveal the groups responsible for the rise of these coins. They have followed a trail of promoters and advertisers around the world to uncover their connections. What they found was an entire disinformation supply chain that relied on falsehoods and misinformation at nearly every step. One of the main reasons for this is the lack of information provided by these meme tokens.
Summary
The crypto community is creating a new asset category called “PoliFi” by blending memes, cryptocurrencies, and politics. Trump coins have several cryptos, including the MAGA coin (TRUMP) that rose over 300% in less than two weeks as Trump won more primary victories.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
