Trump and Biden meme coins surge after Trump meets with NFT holders

Meme coins inspired by current US President Joe Biden and former President Donald Trump have seen surges in the past 24 hours after Trump spoke about cryptocurrencies at his nft holders dinner.

CoinMarketCap data reveals that the Trump-themed meme coin, MAGA (TRIUMPH), soared by more than 44%. Likewise, Jeo Boden (BODEN), a coin with a misspelled nod to President Joe Biden, rose more than 22%.

CoinMarketCap's The meme coin market cap category page identified the top three meme coin gainers in the last 24 hours: Donald Tremp is up 122%, MAGA is up 44%, and Jeo Boden is up 22%.

In contrast to these gains, bitcoin (btc) was trading around $60,800, reflecting a 2.4% decline over the same period. ethereum (eth) also saw a drop, falling more than 1.4% to around $2,950.

The rally in presidential-themed meme coins comes after Trump announced Wednesday that he intends to accept cryptocurrency for campaign donations.

In several video clips twitter.com/macdegods/status/1788363913634914481″ data-type=”link” data-id=”https://twitter.com/macdegods/status/1788363913634914481″ target=”_blank” rel=””>aware At x by DeGods anonymous nft holder Malcolm, the former president addressed a group of nft buyers and expressed his support for crypto donations.

“If you can't, I'll make sure you can,” Trump said in a speech. “Can we donate to the Trump campaign using cryptocurrencies? I think the answer is yes.”

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The announcement fueled the rise of Trump-inspired meme coins, emphasizing the growing intersection between cryptocurrencies and political fundraising.

Trump has made many efforts in the crypto space, including offering nft cards on multiple chains, attacks on CBDCs, and nearly $3 million in cryptocurrency holdings.