Donald Trump, a former critic of cryptocurrencies, has recently shifted his stance, advocating for the industry's growth. Trump has voiced plans to position the United States as a global leader in crypto, promising to establish a Bitcoin strategic reserve and boost BTC mining efforts while opposing central bank digital currencies (CBDCs). His latest endorsement is for a new cryptocurrency platform, “The DeFiant Ones.”
In a recent post, Trump highlighted his intent to challenge the dominance of large banks and financial elites, stating, “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand — together.”
Read more: Trump’s New Cryptocurrency Project ‘The Defant Ones’: Can It Shake Up the Market?
Following Trump’s announcement, several meme coins linked to his name have experienced notable price increases. MAGA (TRUMP) has surged by 20% in a single day, Super Trump (STRUMP) has risen by 10%, and Trump Mania (TMANIA) has seen an 8% increase.
TRUMP Price, Source: CoinGeckoTRUMP Price, Source: CoinGecko
The rally in Trump-themed meme coins may be influenced by both the recent endorsement and Trump’s increasing support in political polls. According to Polymarket, Trump leads with approximately 51% of the vote compared to 48% for his main opponent.
The meme coin sector has been particularly active recently, with numerous tokens achieving new all-time highs. Analyst Murad Mahmudov has suggested that “cult meme coins” might continue to outperform other crypto sectors through the current market cycle.
Mahmudov highlighted that the combined market cap of the top meme coins, excluding major players like Dogecoin (DOGE) and Shiba Inu (SHIB), stands at around $8 billion. He considers this figure relatively small compared to global wealth and predicts significant potential for meme coins, stating, “I would not be shocked for Memes to hit $1T+.”
Read more: Dogecoin Price Rises 6% After Elon Musk's Reaction to Trump’s Cabinet Offer
In addition to meme coins, sectors such as Artificial Intelligence (AI) cryptocurrencies and Real World Assets (RWA) are also expected to thrive in the evolving crypto landscape.
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