Here’s why Trumpcoin, MAGA, and Trump tokens are rising
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: crypto
Updated: Aug 22 2024Trump-themed cryptocurrencies surge: On August 21, Donald Trump-themed cryptocurrencies experienced significant gains, with MAGA token rising by 46% and Trumpcoin increasing by 10%, as Trump's odds of winning the election improved to 54%, while Kamala Harris's odds fell to 46%.
Market volatility and Bitcoin correlation: Despite recent gains, political-themed tokens remain volatile, with their combined market cap dropping significantly. The performance of these tokens may be influenced by Bitcoin's movements, which is currently above $60,000, and could benefit from factors like potential Federal Reserve rate cuts and a weaker US dollar.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
