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Crypto Presidential Rally: TRUMP Soars 36.2% And Flips BODEN

In a year full of global elections, the crypto industry remains expectant and critical of every candidate’s stance on cryptocurrencies. The US presidential elections could pose a turning point for regulations and adoption that could affect the industry worldwide.

On Wednesday, Donald Trump, former US president and Republican candidate, stated his support for the industry and criticized Biden’s administration for its stance on digital assets. MAGA (TRUMP), the Trump-inspired memecoin, saw its price skyrocket  63% in the following hours.

Trump’s Stance On Crypto

The Republican candidate held a gathering on Wednesday at his Mar-a-Lago resort in Palm Beach, Florida. Holders of NFTs bearing Trump’s name and likeness attended the Trump Cards NFT Gala.

During this event, the former US president strongly criticized Biden’s administration and its hostility towards the sector. He revealed he is “fine” with crypto and wants to make it a “solid” industry.

Trump claimed he’s the best option for those who are in favor of cryptocurrencies:

(…) I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you want, if you like crypto in any form, and it comes in a lot of different forms, if you’re in favor of crypto, you better vote for me.

Moreover, the Republican candidate asserted that “crypto is moving out of the US because of the hostility towards it,” something he alleges he doesn’t want to continue and promises to stop.

When asked what he would do to stop the exodus of digital asset businesses, he stated that to embrace them, they would have to let them be in the country. To achieve this, the candidate promised a more welcoming regulatory framework for crypto.

As part of his jab at the current administration, Trump mimicked US President Joe Biden, claiming he would be clueless if asked about cryptocurrencies. He further added, “The Democrats are very much against it.”

TRUMP Flips BODEN As Price Soars

After Trump’s declarations, two memecoins inspired by the politicians saw a price reaction. Jeo Boden (BODEN) soared 23.5% in the following hour, going from $0.34 to $0.42.

Since then, the price has retraced to hover between the $0.35-$0.36 range. BODEN is trading at $0.3492, representing a 15.1% increase in the last 24 hours.

The token’s daily trading volume also saw a significant 35.7% surge, with over $20 million traded in the past day. Despite benefiting from the Republican candidate’s jab at its inspiration, BODEN Still displays red numbers in the longer timeframes, with a 29.9% and 59.8%  weekly and monthly decrease.

As a result, TRUMP’s $252 million market capitalization flipped BODEN’s $239 million. The Trump-inspired token became the 14th largest memecoin by market capitalization, per CoinGecko data.

Moreover, TRUMP seemingly won this round with crypto investors, which rallied 63% after Trump’s statement. The token surged from $4.2 to $7.1 in the following hours before retracing to the $5.3 level.

TRUMP trades at $5.43 at the time of writing, representing a 36.2% increase in the last 24 hours.

crypto, TRUMP, TRUMPUSDT

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Crypto Presidential Rally: TRUMP Soars 36.2% And Flips BODEN

In a year full of global elections, the crypto industry remains expectant and critical of every candidate’s stance on cryptocurrencies. The US presidential elections could pose a turning point for regulations and adoption that could affect the industry worldwide.

On Wednesday, Donald Trump, former US president and Republican candidate, stated his support for the industry and criticized Biden’s administration for its stance on digital assets. MAGA (TRUMP), the Trump-inspired memecoin, saw its price skyrocket  63% in the following hours.

Trump’s Stance On Crypto

The Republican candidate held a gathering on Wednesday at his Mar-a-Lago resort in Palm Beach, Florida. Holders of NFTs bearing Trump’s name and likeness attended the Trump Cards NFT Gala.

During this event, the former US president strongly criticized Biden’s administration and its hostility towards the sector. He revealed he is “fine” with crypto and wants to make it a “solid” industry.

Trump claimed he’s the best option for those who are in favor of cryptocurrencies:

(…) I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you want, if you like crypto in any form, and it comes in a lot of different forms, if you’re in favor of crypto, you better vote for me.

Moreover, the Republican candidate asserted that “crypto is moving out of the US because of the hostility towards it,” something he alleges he doesn’t want to continue and promises to stop.

When asked what he would do to stop the exodus of digital asset businesses, he stated that to embrace them, they would have to let them be in the country. To achieve this, the candidate promised a more welcoming regulatory framework for crypto.

As part of his jab at the current administration, Trump mimicked US President Joe Biden, claiming he would be clueless if asked about cryptocurrencies. He further added, “The Democrats are very much against it.”

TRUMP Flips BODEN As Price Soars

After Trump’s declarations, two memecoins inspired by the politicians saw a price reaction. Jeo Boden (BODEN) soared 23.5% in the following hour, going from $0.34 to $0.42.

Since then, the price has retraced to hover between the $0.35-$0.36 range. BODEN is trading at $0.3492, representing a 15.1% increase in the last 24 hours.

The token’s daily trading volume also saw a significant 35.7% surge, with over $20 million traded in the past day. Despite benefiting from the Republican candidate’s jab at its inspiration, BODEN Still displays red numbers in the longer timeframes, with a 29.9% and 59.8%  weekly and monthly decrease.

As a result, TRUMP’s $252 million market capitalization flipped BODEN’s $239 million. The Trump-inspired token became the 14th largest memecoin by market capitalization, per CoinGecko data.

Moreover, TRUMP seemingly won this round with crypto investors, which rallied 63% after Trump’s statement. The token surged from $4.2 to $7.1 in the following hours before retracing to the $5.3 level.

TRUMP trades at $5.43 at the time of writing, representing a 36.2% increase in the last 24 hours.

crypto, TRUMP, TRUMPUSDT

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After WIF, BONK, BODEN: Top Crypto Trader Now Buys These 2 Memecoins

Memecoins are once making waves in the crypto market. In the last 24 hours, 4 of the 10 best-performing cryptocurrencies in the top 100 are meme coins. The biggest gainers include BONK (+10.2%), PEPE (+4.8%), WIF (+4.7%) and FLOKI (+4.1%). With meme coins slowly regaining, crypto traders are seemingly focusing on lesser-known coins.

Top Crypto Trader Focuses On These 2 Memecoins

According to data from on-chain analysis service Lookonchain, the renowned crypto trader known as “paulo.sol” has been making significant moves into new memecoin territories. Paulo.sol, who has previously amassed substantial profits from meme coins like BONK, WIF, and BODEN, is now shifting his focus to acquiring significant stakes in PUPS and POPCAT.

Lookonchain’s recent posts on X (formerly Twitter) provide a deep dive into paulo.sol’s past and present investment patterns. “What a legend! Paulo.sol has realized profits of $9.51M on WIF, $7.04M on BODEN, and $6.28M on BONK,” Lookonchain tweeted. In total, the crypto trader has made $22 million in realized profits.

The posts further reveal that paulo.sol bought into BONK early in November 2023, capturing substantial gains as its value surged. “As early as Nov 11, 2023, paulo.sol noticed the rising of BONK and bought BONK. He made ~$6.28M by buying BONK at low prices and selling at high,” the data provider stated.

The crypto trader continued his strategy by investing in WIF and BODEN in December 2023 and March 2024, respectively, following their sharp price increases. Notably, “paulo.sol did not buy WIF and BODEN when they first went online, but paid attention to and bought heavily when they first rose sharply,” Lookonchain observes.

As of now, paulo.sol continues to hold 12.87 million BODEN tokens valued at approximately $7.6 million and 1.87 million WIF tokens worth around $5.7 million. However, his most recent activities show a pivot towards new meme coins, PUPS and POPCAT, sparking interest among investors and analysts alike.

Lookonchain noted, “We noticed that paulo.sol is buying PUPS and POPCAT recently. He spent $1.77M to buy 4.3M POPCAT at $0.42 today. And he has spent $5.97M to buy 101,712 PUPS at $59 since Apr 11, becoming the largest holder of PUPS on Solana.”

The impact of paulo.sol’s investment has been palpable in the market dynamics of the newly favored meme coins. Despite a general downturn in the memecoin sector, POPCAT’s price surged by 52% today, trading at approximately $0.51 with a trading volume increase of 51% to $166 million. Over the past nine days, POPCAT has risen a whopping 410%.

On the other hand, PUPS is seeing a price drop of 4.2% today, trading at $36.96, with a 27% fall in trading volume to $2.82 million. Since reaching an all-time high above $152 on April 14 (on Coinex), the PUPS price is down more than 78%.

PUPS price