Memecoins
EXCLUSIVE: Trump-Themed MAGA Memecoin Plans to Rival Dogecoin and Shiba Inu with ‘Four More Years of Catalysts’
“I can’t think of anyone else who is a greater source of meta than Donald Trump.”
Steven Steelemarketing director of MAGA Memecoin TRUMP/USD, the Trump-themed cryptocurrency that caused a sensation for being that of the former president the largest holding in the portfoliobelieves it is “increasingly likely” that the 45th president will become the 47th president of the United States.
If that happens, we could have “another four years of hilarity and catalysts,” Steele told Benzinga in an interview.
Surveys they have the previous and current president neck and neck, as it happened prediction marketswhich gave Trump a two-point lead Joe Bidenfrom May 4th.
Whether or not he manages to secure a reelection bid, interest in Donald Trump will likely intensify between now and November 5.
And with that, the appeal of investing in TRUMP, Steele said. She told Benzinga that she can’t think of any person who will be covered more than Trump during the election season “and probably beyond.”
How MAGA Memecoin turned “the most covered person” into a cryptocurrency
Andrea Kanga crypto venture capitalist, you see Trump as “one of the best attention grabbers in the world.”
His fund Capital Mechanism announced on February 6 that it had accumulated TRUMP, the first “rival” meme coin. Dogemoneta DOGE/USD e Shiba Inu SHIB/USD.”
In fact, among meme coins, MAGA Memecoin is a kind of pioneer. He was the first to successfully introduce a meme currency based on a real-world person or cultural phenomenon. Speculate on the attention created by certain events, such as the death of the former Secretary of State Henry Kissingerit has since become a staple of the meme coin circus.
Steele, who was initially just an investor in TRUMP, said the “tremendous potential” pushed him to become chief marketing officer. Following its launch in August 2023, TRUMP grew to a preliminary peak of $448 million in market capitalization on March 5 and currently trades at a valuation of approximately $220 million.
Steele attributes this increase in value to several key points:
Consistent marketing: MAGA Memecoin holds weekly slots for its community and posts Trump-themed memes within it X account.
Philanthropic action: The project has donated over $1 million Ethereum ETH/USD for 37 consecutive weeks to support homeless veterans and prevent child trafficking. Steele highlighted that this was one of the key points that attracted him, with National Veterans Homeless Support being able to expand its operations thanks to the donations.
Partnerships: MAGA Memecoin recently announced had enlisted a controversial political figure and a self-proclaimed “agent provocateur” Ruggero Pietra as a partner.
But the inevitable consequence of success is competition, a rule that also applies – or especially – to meme coins.
“To achieve unprecedented results you have to do unprecedented things”
In a March interview with Coindesk, Steele said he wants TRUMP “up there with a DOGE or a SHIB, that kind of scale and market cap and popularity.”
When asked how to make this a reality, Steele told Benzinga: “To achieve unprecedented results, you have to do unprecedented things.”
Stone’s signing is an example of this, Steele pointed out, as it brought many “normie” investors to MAGA Memecoin who bought TRUMP as their first cryptocurrency.
But since Steele’s March interview, the landscape of political meme coins has changed. TRUMP is no longer the only political meme coin.
In fact, it’s not even the largest currently. BODEN BODEN/USD a meme coin parodying Biden with intentionally incorrect spelling and cartoons, has seen an astronomical surge to over $700 million in market capitalization and is currently trading at a valuation of around $290 million. The emergence of a quasi-rival even sparked a forecast market on which meme coin would reach $1 billion first (BODEN leads TRUMP 54% to 46%).
Steele told Benzinga that he is aware of the coin – and others that have boarded the “PoliFi” meta – but is not concerned or interested in it.
In fact, a de facto rivalry between the two meme coins, similar to that between Dogecoin and Shiba Inu, could be positive and create more interest and loyalty among holders.
But what does the man whose face is on the memes that fuel MAGA Memecoin think of all this?
Read also: Dogecoin is “Ready to Rise High,” but Pepe is “On a Mission to the Moon,” Trader Exclaims
“More than enough reasons to believe” Trump knows TRUMP
Donald Trump’s position Bitcoin BTC/USD and cryptocurrencies have stopped considering them a “disaster waiting to happen” and not to be “a big fan” in 2021 to now express fun with cryptocurrencies and the “crazy new currencies“apart from Bitcoin.
Steele thinks there is “more than enough reason to believe” that the former president is aware of the meme coin launched by his personality, especially considering that Stone served as an advisor to Trump’s 2016 campaign.
He suggested that Trump may have been referring to MAGA Memecoin when he mentioned the “crazy new currencies.”
Steele also shared that Trump is aware of this and is a fan Shawn Farashhost of the project’s weekly slots and skilled Trump imitator.
Trump’s assignment of TRUMP was an intentional “strategically savvy and hilarious” move by the project to promote the coin. And, just as expected, it has become Trump’s largest holding ever since.
But what if Trump sold “his bag” of MAGA Memecoin? If the meme coin appreciates during the election season, Trump’s current holdings of $2.73 million could push him to consider cashing out.
Steele acknowledged the possibility but doesn’t see it as a problem. Similar to the 2021 incident when Ethereum co-founder Vitalik Buterin sold and donated Following his SHIB allocation, Steele thinks it could also have a positive impact on MAGA Memecoin.
If TRUMP can really become, like Andrew Kang She said, the first meme coin that will break the reign of dog-themed incumbents remains to be seen. Meme coins like Pepper PEPPER/USD e dogwifthat WIF/USD – yet another dog coin – holds a substantial advantage over political meme coins.
But if you consider the combination of “memecoin supercycle” with the “strangest campaign” the president has ever been in office, who knows what will happen between now and November?
Read next: Trump says London and Paris are no longer recognisable: ‘We can’t let this happen here’
Image created using artificial intelligence with Midjourney