Trump, Biden-inspired cryptos and memecoins – How are they doing today?

• TRUMP recorded a massive hike in price as social attention grew
• However, BODEN’s price fell significantly over the last 24 hours

The upcoming U.S presidential elections have allowed many crypto-traders and investors to gain massive profits over the last few months. In fact, memecoins such as TRUMP and BODEN have garnered significant attention in the space within a mere few days.

One contributing factor to the performances of these memecoins could be recent statements made by Donald Trump regarding cryptocurrencies.

The Trump card

The former U.S. President expressed his intention to accept campaign donations in cryptocurrencies. In videos shared by Frank Degods, a NFT creator and influencer, Trump can be seen assuring a group of his NFT buyers that he plans to facilitate crypto-donations for his campaign. During the event, Trump highlighted his support for cryptos, contrasting it with President Joe Biden’s purported lack of familiarity with the digital asset space. He urged crypto-enthusiasts to support him, emphasizing his commitment to the crypto-community.

These remarks were reportedly made at a gathering organized by Trump to meet and dine with purchasers of his “Mugshot Edition” NFTs. The attendees, who bought over 47 NFTs priced at $99 each, were invited to join Trump during a break from his trial proceedings.

Trump also boasted about his role in revitalizing interest in NFTs, stating that he made NFTs popular again.

With respect to inquiries about the U.S. crypto industry, Trump pledged to advocate for keeping crypto-businesses within the country. He also expressed concern about the potential departure of crypto-ventures due to regulatory hostility and vowed to prevent such an exodus.

Looking at the data

At press time, TRUMP was trading at $5.87, with its price down by 25.53% in the last 7 days. The popularity of TRUMP was reflected in the social volume for the token.

In fact, AMBCrypto’s analysis of Santiment’s data revealed that the social volume around the TRUMP token had grown significantly over the last few days, indicating a surge in comments around the token on social media platforms.

Moreover, the weighted sentiment around the token also grew – A sign that positive comments about TRUMP outnumbered negative ones.

Source: Santiment

BODEN, on the other hand, was not able to see the same growth. In the last 24 hours, for instance, the price of the token fell by 10.97%.

These tokens are expected to see more volatility till these elections end.

Source: CoinMarketCap