Bittime - A meme coin inspired by former United States President Donald Trump breaks records!the coin, named MAGA (TRUMP), exploded on Thursday night (30/5/2024) after dropping after the verdict in his "bribe money" trial.
Initially, the price of TRUMP and other politically themed meme coins plummeted after the guilty verdict was handed down to Trump on 34 criminal charges in the trial. This price reduction is relatively short.
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Uniquely, the Ethereum-based TRUMP coin has not only risen from adversity. However, the price actually skyrocketed far beyond the level before the trial decision.
Also read: Crypto News: Donald Trump Found Guilty, What Will Be the Fate of His Themed Coins?
This increase continued until it reached an all-time high of IDR 270,240 (US$16.84) per coin on Thursday evening, according to CoinGecko data.
TRUMP Price Increases 2 Times
TRUMP's price itself has almost doubled in the last week. This fantastic spike reached over 84% and pushed the overall 30-day gain to 261% at the time of writing.
Even though it had reached its peak, TRUMP's price is currently in the range of IDR 244,160 (US$15.26) or down more than 8% from its record high. However, TRUMP is still ranked 131st as the crypto coin with the largest market capitalization, as well as being the top political themed coin.
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Meanwhile, the coin inspired by Joe Biden, "Jeo Boden" (deliberately misspelled), actually saw its price drop by 10% in one day to IDR 4,320 (US$0.27).
Also read: 5 Tokens in the Top Rank: IPV, TRUMP, TRB, UMA, CEL
TRUMP Price Surge Triggered by Donald Trump's Attitude
The recent surge in Trump coin prices is thought to have been triggered by the former president's change in attitude towards crypto. Previously, Trump had criticized Bitcoin, but now he is embracing crypto fans.
In recent weeks, Trump declared himself "agreeable with crypto" and promised—if re-elected—to improve regulations to keep crypto companies operating in the United States.
Trump's concrete steps can be seen from accepting campaign donations in the form of well-known cryptocurrencies such as Bitcoin, Ethereum, Solana and Dogecoin.
Interestingly, a digital wallet allegedly linked to Trump—identified by Arkham Intelligence—and his NFT project were found to hold nearly 580,000 TRUMP coins.
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The crypto assets were sent to the wallet last year and are now worth more than IDR 140 billion (US$8.8 million) at current prices. In total, the value of all crypto assets in the wallet reaches IDR 210 billion (US$13.1 million).
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Boost Trump Campaign (BTC), Minimalist Campaign to Support Trump
Donald Trump Raises Campaign Funds with Cryptocurrency
Donald Trump Potentially Eases Cryptocurrency Regulations If Re-Elected
Donald Trump's Ambition: America Becomes Cryptocurrency Leader and Resistance to Biden
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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