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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

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Home Altcoins

DJT coin surges 230K%! Is Donald Trump playing a part in its rise?

June 19, 2024
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DJT coin surges 230K%! Is Donald Trump playing a part in its rise?
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  • DJT coin surged 230k% amid rumors linking it to Donald Trump.
  • Other Trump-related tokens and Biden memecoins saw significant declines.

Amidst broader market decline, the Solana [SOL] memecoin market cap has also fallen to $6.34 billion, marking a 20.1% drop in the past 24 hours as per CoinGecko.

Despite this downturn, a newly launched memecoin on Solana called DJT is experiencing a surge in trading activity.

This increase is attributed to rumors that the token is the official cryptocurrency associated with former U.S. President Donald Trump.

Rumor or fact?

Pirate Wires, a tech media company, was the first to start this rumor when they said,

Pirate Wires

Source: Pirate Wires/X

Initially, the tweet was labeled with a “community note” identifying it as “fake news,” but this note has since disappeared.

Mike Solana (unrelated to the Solana blockchain network), Editor-in-Chief at Pirate Wires, and CMO at venture capital firm Founders Fund, clarified that he did not speak with Trump directly and was merely relaying information from his sources.

Notably, this news was not well-received by many execs. As David Bailey, CEO of BTC Media, expressed his disapproval and stated, 

David Bailey

Source: David Bailey/X

Impact on DJT coin

However, not all repercussions were negative. The DJT coin experienced a massive surge of 230k% in the past 24 hours, according to DEXScreener.

But while DJT saw a significant hike, other Trump-related tokens faced declines.

At the time of writing, Doland Tremp [TREMP] fell by 30.8%, and MAGA [TRUMP] dropped by 28.26%, as reported by CoinGecko.

Moreover, the declines weren’t just limited to Trump-related memecoins.

See also  What the Rise and Fall of NFT Games Can Teach Us

Various memecoins associated with the current president, Joe Biden, also saw significant drops. For instance, Jeo Boden [BODEN] fell by 23.69% at the time of writing.

Trump’s pro-crypto moves

Regardless of whether the news proves to be false or true, Trump has already shown his support for crypto lot many times.

In May, his campaign launched a Coinbase-based fundraising page for crypto donations to support his presidential bid.

He also urged the U.S. to lead in the cryptocurrency industry and stated on Truth Social that he wanted all remaining Bitcoin [BTC] to be mined in the U.S.

Therefore, as the election approaches, it will be interesting to see whether his actions reflect genuine support for cryptocurrency or are merely political maneuvers to gain votes.

Previous: Is Litecoin in danger of falling to $63? Breaking down the odds
Next: XRP price prediction: Can the altcoin stay above $0.5?

READ ALSO

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  • DJT coin surged 230k% amid rumors linking it to Donald Trump.
  • Other Trump-related tokens and Biden memecoins saw significant declines.

Amidst broader market decline, the Solana [SOL] memecoin market cap has also fallen to $6.34 billion, marking a 20.1% drop in the past 24 hours as per CoinGecko.

Despite this downturn, a newly launched memecoin on Solana called DJT is experiencing a surge in trading activity.

This increase is attributed to rumors that the token is the official cryptocurrency associated with former U.S. President Donald Trump.

See also  Animoca Brands Plans U.S. Listing to Capture 'Unique Moment' of Trump Administration: FT

Rumor or fact?

Pirate Wires, a tech media company, was the first to start this rumor when they said,

Pirate Wires

Source: Pirate Wires/X

Initially, the tweet was labeled with a “community note” identifying it as “fake news,” but this note has since disappeared.

Mike Solana (unrelated to the Solana blockchain network), Editor-in-Chief at Pirate Wires, and CMO at venture capital firm Founders Fund, clarified that he did not speak with Trump directly and was merely relaying information from his sources.

Notably, this news was not well-received by many execs. As David Bailey, CEO of BTC Media, expressed his disapproval and stated, 

David Bailey

Source: David Bailey/X

Impact on DJT coin

However, not all repercussions were negative. The DJT coin experienced a massive surge of 230k% in the past 24 hours, according to DEXScreener.

But while DJT saw a significant hike, other Trump-related tokens faced declines.

At the time of writing, Doland Tremp [TREMP] fell by 30.8%, and MAGA [TRUMP] dropped by 28.26%, as reported by CoinGecko.

Moreover, the declines weren’t just limited to Trump-related memecoins.

Various memecoins associated with the current president, Joe Biden, also saw significant drops. For instance, Jeo Boden [BODEN] fell by 23.69% at the time of writing.

Trump’s pro-crypto moves

Regardless of whether the news proves to be false or true, Trump has already shown his support for crypto lot many times.

In May, his campaign launched a Coinbase-based fundraising page for crypto donations to support his presidential bid.

He also urged the U.S. to lead in the cryptocurrency industry and stated on Truth Social that he wanted all remaining Bitcoin [BTC] to be mined in the U.S.

See also  Crypto Analyst Predicts 18% Rise To $1,900

Therefore, as the election approaches, it will be interesting to see whether his actions reflect genuine support for cryptocurrency or are merely political maneuvers to gain votes.

Previous: Is Litecoin in danger of falling to $63? Breaking down the odds
Next: XRP price prediction: Can the altcoin stay above $0.5?
Tags: 230KCoinDJTDonaldpartPlayingrisesurgesTrump

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