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Meme Coins Inspired by Donald Trump Surge Over 500,000% After Pro-Crypto Decisions

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Former US President Donald Trump has been making waves in the crypto industry with his support for cryptocurrencies, sparking a surge in meme coins inspired by him. One such coin, MAGA (MAGA), saw a significant increase of 162% in the last 24 hours, now trading at $0.0006501. A crypto trader reportedly made $2.7 million in just three days by trading MAGA, achieving an impressive ROI of 505%. The trader initially bought 6 billion MAGA and sold 1.5 billion for profits, now holding 4.5 billion MAGA valued at $2.51 million.

Furthermore, MAGA’s spinoff on the Solana network witnessed an extraordinary increase of 534,000% over the same period, currently trading at $0.1811 with a market capitalization of $8.5 million. Trump’s recent pro-crypto statements and support for the industry have contributed to the surge in meme coins inspired by him. He emphasized the importance of the US being a global leader in the crypto sector and pledged to support the rights of the nation’s 50 million crypto holders.

In a surprising political shift, Trump, who was once a crypto skeptic during his presidency, is now actively engaging with the crypto community. He has been making crypto-focused campaigns, such as hosting dinners with the NFT community and accepting cryptocurrency campaign donations, including Bitcoin. Trump’s support for the crypto industry comes at a time when President Joe Biden’s administration has been implementing stricter regulations on cryptocurrencies, leading to a shift in support among crypto owners.

A recent survey from investment firm Paradigm revealed that 48% of crypto owners plan to vote for Trump in the upcoming election, while 39% are in favor of President Biden, and 13% remain undecided. The survey also highlighted a shift in voting patterns among crypto owners, with more crypto owners now leaning towards Trump due to actions taken by the Biden administration. Trump’s promises to support the crypto industry and pardon Ross Ulbricht, the operator of Silk Road, if re-elected, have further boosted his support among crypto enthusiasts.

Overall, Trump’s bold political moves and support for cryptocurrencies, particularly meme coins inspired by him, have caused a significant stir in the crypto market. With his campaign slogan “Make America Great Again” becoming the inspiration for a booming meme coin, MAGA, traders and investors are capitalizing on the opportunity to profit from the growing interest in Trump-related crypto assets. Whether Trump’s support for the industry will lead to long-term growth and sustainability remains to be seen, but for now, the surge in meme coins inspired by him continues to make headlines in the crypto world.

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