Recent developments have shaken the cryptocurrency market following an attack on former President Donald Trump during his campaign announcement. The incident spurred significant price movements, particularly for Bitcoin and Trump and Biden-themed meme coins. The spotlight is now on the current status of these specific meme coins as the market reacts to the unfolding events.
How is MAGA (TRUMP) Performing?
The Trump-themed meme coin MAGA (TRUMP) remains significantly below its previous peak of $17.52, despite a recent 3% boost pushing the price past $8.3. Immediately after the attack, it had surged beyond $10. The coin’s market capitalization also saw a rise, climbing to $364 million and placing it at the 212th position. However, the 24-hour trading volume experienced a drastic decline of over 74%, settling at $17.9 million, suggesting a potential shift in investor focus towards more substantial meme coins.
What About Donald Tremp (TREMP)?
Attention has also turned towards the price of TREMP, another Trump-themed meme coin. TREMP is currently trading at approximately $0.5084 after a 6% increase over the last 24 hours. The coin has impressed investors with a 50% rise in the past week. Despite this, TREMP’s market cap is back above $51 million, but its 24-hour trading volume plummeted to $16 million after a 65% drop. Investors who bought at its all-time high of $1.65 are still facing a significant gap to recover.
Why Is Joe Boden (BODEN) Lagging?
In contrast, the Joe Biden-themed meme coin BODEN has shown lackluster performance. Its price increased by a mere 0.45% in the last 24 hours, lagging behind its peers. Additionally, BODEN has seen a 9% decrease over the past week. The coin’s market capitalization stands at $21.9 million, while its 24-hour trading volume is a low $6 million, reflecting waning interest.
Key Takeaways for Investors
Here are some valuable insights for investors based on the recent market movements:
- MAGA (TRUMP) shows potential for short-term gains but remains risky for long-term investors.
- TREMP offers short-term opportunities but is far from its peak, indicating caution is necessary.
- BODEN’s performance suggests it may not be a strong contender in the meme coin market currently.
Conclusion
The cryptocurrency market has witnessed notable fluctuations in meme coin prices following the incident involving Donald Trump. While some coins like MAGA (TRUMP) and TREMP have shown short-term improvements, others like BODEN are struggling to keep up. Investors should carefully consider these dynamics when making decisions in the volatile meme coin market.