The 47th President of the United States, Donald Trump, has made headlines once again with the launch of the TRUMP coin on the heels of the presidential inauguration day. This new meme coin quickly gained traction in the cryptocurrency market, surging more than 1,000% in just two days after its launch and reaching an all-time high of $73.43. However, the price of the TRUMP coin took a hit after the President’s wife, Melania Trump, launched her own meme coin, $MELANIA.
Both the TRUMP coin and $MELANIA coin became highly sought-after digital assets in the cryptocurrency market this week. Investors’ optimism under the Trump administration remains high, as many believe that his policies will lead to economic growth. President Trump has taken a cryptocurrency and blockchain-friendly stance, which could potentially benefit the markets. This positive outlook has also impacted other leading cryptocurrencies like Bitcoin and Ethereum, with the potential for altcoins and meme coins, including the TRUMP coin, to increase in value.
A recent survey published by NFTeven revealed that over 14% of Americans have invested in the TRUMP coin, indicating a significant level of interest in this new meme coin. The survey also found that around 81% of TRUMP coin holders had enjoyed profits before the price dip on Tuesday. Additionally, approximately 40% of TRUMP coin buyers were first-time investors in the cryptocurrency market, showing that the TRUMP coin has attracted a new wave of investors into the crypto space.
The surge in interest in the TRUMP coin has been described as a significant milestone, highlighting the growing appeal of meme coins backed by political figures. At one point, the TRUMP coin even surpassed Shiba Inu in market cap, with its trading volume reaching billions in record time. This indicates that investors have placed their trust in President Trump’s new meme coin.
Looking ahead, if President Trump continues to support digital assets as part of his governmental policies, the cryptocurrency market could rally in the next four years. The growing support for digital assets from the top could lead to a lucrative period for the cryptocurrency market. Overall, the launch of the TRUMP coin has sparked excitement and interest among investors, signaling a potentially bright future for meme coins backed by political figures.