- MOG TRUMP surged by 50%, thanks to the support around former President Trump.
Trump Jr. announced a DeFi platform to address banking inequality, distinct from typical memecoins.
As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by the recent surge of MOG TRUMP [TRUMP], a memecoin that has managed to outpace even the likes of Dogecoin and Shiba Inu.
In the midst of a wider market rebound, Trump (symbol MOG TRUMP) has experienced a significant increase of more than 50%, as reported by CoinGecko, within the last 24 hours.
MOG TRUMP crypto rises
Currently priced at $0.04075, the surge in value for this meme coin is largely attributed to the consistent advocacy of former U.S. President Donald Trump for cryptocurrencies throughout his election campaign.
Although MOG TRUMP was ranked at #713 on CoinGecko on the 9th of August, it has garnered attention due to its substantial surge within a 24-hour period.
During this timeframe, it surpassed popular meme tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) by achieving greater growth than their modest, single-digit increases in the same duration.
As a long-time follower of financial markets and technology trends, I’ve noticed that the recent surge in cryptocurrency prices can be attributed to more than just President Trump. In fact, his family’s increased visibility on social media promoting cryptocurrencies has played a significant role in this phenomenon.
One of the recent being Donald Trump Jr.’s post on X (formerly Twitter), which said,
Trump family’s moves
Following this, Donald Trump Jr unveiled his intentions for developing a brand-new Decentralized Finance (DeFi) cryptocurrency system aimed at addressing the disparity in financial services availability.
Instead of being like common meme-based cryptocurrencies, this platform focuses on bringing significant improvements to the financial industry.
On August 8th, during a question-and-answer session on the subscription platform Locals, Donald Trump Jr., the oldest son of the current presidential candidate and previous U.S. President Donald Trump, made a statement.
“What we’re talking about is a larger type of platform.”
He contended that the current banking system isn’t fair, restricting financing opportunities for numerous people.
Via the development of a Decentralized Finance (DeFi) system, Donald Trump Jr. intends to offer a new banking option, thereby expanding financial opportunities to a larger group of individuals.
Yet, this project is just getting started and may require some time to grow and mature before it can run smoothly and efficiently.
How it all started
Reflecting on the genesis of recent events, I recall Eric Trump, Donald Trump Jr.’s sibling, subtly suggesting an impactful breakthrough in the realm of cryptocurrencies and Decentralized Finance (DeFi).
Mentioning or tagging the verified accounts of The Trump Organization, Donald Trump (father), and Donald Trump Jr., as well as Eric Trump, raised questions about whether the Trump family might launch a unique meme-based cryptocurrency during the election period.
However, the lack of discussion around the issue suggests this speculation may be unfounded.
Following this, Donald Trump Jr. took to X and said,
“Get ready for a major disruption in the crypto sphere! The future lies in decentralized finance, so don’t miss out on this opportunity.”
Community reaction and Polymarket impact
It’s clear that the efforts made weren’t overlooked, as evidenced by a user on platform X, known as Chairman, who pointed this out.
“Bitcoin going to a million if Trump wins.”
At the same, time, another X user- Bororvik stopped in and claimed,
As a researcher, I’m closely monitoring the shifting dynamics of the polls, and it appears that according to Polymarket prediction data, Trump is currently trailing behind Kamala Harris. Yet, the election’s result still hangs in the balance, as uncertainty remains a significant factor.
Read More
- JASMY PREDICTION. JASMY cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- DOP PREDICTION. DOP cryptocurrency
- Top gainers and losers
- KAI PREDICTION. KAI cryptocurrency
- BOO PREDICTION. BOO cryptocurrency
- SCOMP PREDICTION. SCOMP cryptocurrency
- LUNA PREDICTION. LUNA cryptocurrency
- CTC PREDICTION. CTC cryptocurrency
- SILLY PREDICTION. SILLY cryptocurrency
2024-08-09 17:12