Memecoins
Trump and Biden Meme Coin Prices Rise After Former President’s Meeting with NFT Holders
Election themed meme coins Caricatural American politicians have increased overnight, in the wake of former President Donald Trump encounter with the owners of his NFT collection.
He was leading the group SolanaDoland-based meme coin Tremp (TREMP), which hit $0.69 after jumping 155% in the last 24 hours. EthereumThe MAGA meme coin (TRUMP) is also up 42% overnight, at its current price of $6.11.
On the other side of the political aisle, Jeo Boden (BODEN) also rose a more modest 23.2% to $0.37. The meme coin caricaturing Joe Biden posted gains despite Trump saying, “I don’t like that investment” in his Q&A session with holders of the Trump NFT collection.
The BODEN and TREMP meme coins highlighted earlier this year, reaching market capitalizations of $473 million and $83 million respectively in April, before plummeting to current market capitalizations of $246 million and $67 million.
After hearing that a meme coin mocking his political rival was worth more than $240 million, Trump called it “a lot of money for a coin.”
Meme coins, cryptocurrencies based on internet memes and current events, typically have limited liquidity and high volatility related to their importance in news cycles. The BODEN and TREMP meme coins are part of the “Spoderman Politicians” series, originally inspired by the Spodermann meme– a crudely drawn Microsoft Paint character who appeared in a series of online comics.
Trump meets with NFT holders
Trump met with his detainees Trump trading card Collecting NFTs at his Mar-a-Lago resort in Florida on Wednesday, declaring he would stop the “hostility toward cryptocurrencies” that he said was causing crypto firms to abandon the U.S.
The former US president and 2024 hopeful, currently involved in a number of criminal and civil casesHe added that Democratic Party and Securities and Exchange Commission (SEC) Chairman Gary Gensler is “very against” cryptocurrencies, “but I’m fine with that.”
Trump, who added that he would welcome cryptocurrency donations for the campaign, took some action about face regarding cryptocurrency. While in office in 2019, he he declared himself “is not a fan of Bitcoin and other cryptocurrencies,” adding that they are “highly volatile,” “based on nothing,” and “not money.”