Price of the memecoin linked to Donald Trump rose 54%

The meme coin market remains at an explosive moment, with huge increases among some of the most popular tokens. Among them, the growth in the price of the MAGA (Trump) memecoin stands out, linked to the former president and presidential candidate of the United States, Donald Trump. Over the last week, the coin experiences a 54% return.

After being relatively stagnant in the previous days, the currency experienced strong bullish momentum during the last few hours. The reason for this is the magnate’s change of position regarding the cryptocurrency market, which was already seen coming. After despising Bitcoin during his presidential term, Trump is now presenting himself as the crypto candidate.

During recent events and posts on the social network truth, the businessman showed enormous commitment to protecting fundamental elements of the crypto sector. In that sense, he criticizes the position of his Democratic adversaries towards the world of cryptocurrencies. In his opinion, the Joe Biden government wants “painfully murder» to the technology industry based on these tokens.

On the other hand, Trump promised that, if elected president, he will defend the right to self-custody and free Ross Ulbricht, creator of Silk Road. «I will keep Elizabeth Warren and her bullies away from your bitcoins», he commented. Likewise, she stressed that now she has a more open mind regarding cryptos.

Memecion MAGA experiences a strong boost after recent statements by Donald Trump. Sources: CoinMarketCap

MAGA memecoin price reacts to the rise

Donald Trump’s change of heart, as already said, was something that could be seen coming since his entry into the world of NFTs. However, until now he had not made such forceful statements. In response to this important fact, the price of the MAGA memecoin experienced a sharp rise, especially during the last few hours.

The issue of cryptocurrencies has a high level of politicization in the United States. The two parties contending for power have completely opposite positions regarding the cryptoverse, with the democrats as archrivals and the republicans as Superheros. This electoral environment reached the memecoin submarket with particular force.

Consequently, there are two tokens that represent both candidates and their prices vary according to the campaign environment. In the particular case of the MAGA coin (initials of Make America Great Again), is going through an outstanding streak. At the time of writing this note, its returns exceed 54% and will probably have a new jump.

Until last Friday, the price of this memecoin had difficulty breaking the $9 barrier. Now, the rally took it to $13.29 dollars per unit, from where it fell to the current $12.1 dollars.

For risk lovers: This currency could maintain a strong rise until November, depending on how the campaign develops. Meanwhile, if Trump is elected president, the jump could be tremendous. In any case, it is worth keeping an eye on the surveys. On the other hand, you must be prepared to lose everything invested.

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