A extensively adopted crypto dealer says that the build-up to the US presidential election in November may ship two memecoins hovering.
Pseudonymous crypto analyst Altcoin Sherpa tells his 216,000 followers on the social media platform X that meme tokens MAGA (TRUMP) and Jeo Boden (BODEN) may outperform because of election yr pleasure.
TRUMP is impressed by former president Donald Trump, who’s operating for president once more. BODEN is impressed by US President Joe Biden, who’s operating for re-election in opposition to Trump and refers to a misspelling of his identify.
“Present meme technique for me: focus in a single sector, USA politics. I personal TRUMP and I wish to purchase BODEN. Ought to be the most important narrative when the election stuff actually will get going later this yr. Trump goes to always be within the information and doing his regular antics.”
In the meantime, blockchain analytics platform Santiment is noticing an obvious correlation between the 2 memecoins’ worth motion and the conduct of the 2 candidates.
“A lot of the attribution to those newest memecoin rises are going to Donald Trump and his pro-crypto endorsements. As proven, mentions of Trump soared close to the cryptocurrency native backside, together with Biden, who merchants worry anti-crypto insurance policies.”
TRUMP is buying and selling for $5.40 at time of writing, down greater than 7% within the final 24 hours. BODEN is buying and selling for $0.303 at time of writing, a fractional lower on the day.
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