- TRUMP recorded a massive hike in price as social attention grew
- However, BODEN’s price fell significantly over the last 24 hours
As an experienced crypto analyst, I have closely followed the price movements and social sentiment of various digital assets, including TRUMP and BODEN. The recent attention garnered by these memecoins due to the U.S presidential elections has been noteworthy.
Over the past several months, the forthcoming U.S presidential elections have presented lucrative opportunities for crypto traders and investors. Notably, certain memcoins like TRUMP and BODEN have attracted considerable interest in the crypto sphere within a short timeframe.
One potential explanation for the surges in value experienced by certain meme coins might be linked to recent comments made by Donald Trump about cryptocurrencies.
The Trump card
Previously elected U.S. President Trump announced his intent to receive campaign contributions in the form of cryptocurrencies. In footage posted by Frank Degods, a renowned NFT creator and influencer, Trump is seen reassuring his NFT purchasers that he intends to set up a means for crypto donations towards his campaign. At this gathering, Trump voiced his backing for cryptos, setting it apart from President Joe Biden’s reported unfamiliarity with the digital asset sector. He called on crypto enthusiasts to show their support, emphasizing his dedication to the crypto community.
At a private event hosted by Trump, I understand that attendees, having purchased 47 units of his “Mugshot Edition” NFTs for $99 apiece, were granted the opportunity to dine and mingle with him. This gathering reportedly took place amidst a pause in Trump’s ongoing trial proceedings.
As a researcher studying the evolution of digital art markets, I can share that Trump claimed credit for rekindling public fascination with Non-Fungible Tokens (NFTs).
As a crypto industry analyst, I can tell you that during inquiries about this sector in the U.S., Trump made it clear that he intends to support crypto businesses domestically. He also expressed worry over the possibility of these ventures leaving due to regulatory unfriendliness and promised to prevent such a departure.
Looking at the data
As of now, TRUMP was priced at $5.87, marking a significant decrease of 25.53% over the past week. Social media buzz indicated high interest and popularity surrounding this token.
Based on the findings from AMBCrypto’s examination of Santiment’s data, it was observed that there had been a notable increase in social buzz surrounding the TRUMP token recently. This rise in chatter indicates an uptick in discussions about the token on various social media outlets.
Additionally, the sentiment score associated with the given token became more pronounced – Indicating a higher volume of favorable remarks towards TRUMP compared to unfavorable ones.
Contrastingly, BODEN failed to experience the same level of expansion as the previous entity. Specifically, within the past 24 hours, the value of its token dropped by 10.97%.
These tokens are expected to see more volatility till these elections end.
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2024-05-10 17:12