How Biden’s Exit Affects Trump Themed Coins

The Trump themed coins sector is witnessing notable fluctuations following Joe Biden’s announcement that he will not contest the 2024 presidential election. Biden has been under pressure from fellow Democrats to reject his nomination and pave the way for another leader to the party’s flag against former President Donald Trump in the elections scheduled for November.

These cryptocurrencies, named Super Trump, Maga, and Doland Trump, are experiencing diverse market dynamics; some are appreciating, while others remain subdued. The trend highlights the increasing influence of U.S. political developments on investment decisions in the crypto space.

1. Trump Themed Coins – Super Trump (STRUMP)

Super Trump (STRUMP) introduces an innovative cryptocurrency honoring Donald Trump, the 45th President of the United States. This digital asset aligns with his ideals of minimal government and maximum market liberty. STRUMP’s blockchain manages a significant sum of 2.6 billion tokens, integrating political allegiance with financial technology.

The financial framework of STRUMP allocates portions of transaction fees to a wallet specifically for Donald Trump. Other revenues support liquidity, token burns, and marketing efforts. Moreover, the platform offers staking and farming options, enhancing user involvement.

STRUMP is priced at $0.01547, having risen by 24% following news of Biden dropping out in the 2024 elections. Although it saw a minor decline of 0.60% today, its market cap is valued at $28 million, ranking it #715 on CoinMarketCap. With a remarkable 19% increase over the last month, STRUMP shows a promising trajectory for growth, with a trading volume reaching $4.58 million in the past 24 hours.

The 4-hour technical indicators for the Super Trump show a bullish sentiment in recent trading sessions. The Chaikin Money Flow (CMF) indicator has remained positive, registering a value of 0.37.

The Awesome Oscillator (AO) displayed a value of 0.001824. The AO presents a green bar in the latest session, signaling an increase in market momentum and potentially pointing towards a positive price movement ahead.

2. Maga (MAGA)

Maga (MAGA), a cryptocurrency associated with the MAGA movement, is currently valued at $6.85. In the past day, one of the key Trump themed coins has seen a decline of 4%. The cryptocurrency ranks 217th by CoinMarketCap, with a market capitalization of $300 million. Since its introduction, MAGA has surged impressively by 41,405%. 

In recent weeks, its value has varied significantly, ranging between $8 and $5. A noticeable decrease in price occurred this week. This downturn coincided with a significant event involving an assassination attempt related to Trump and Biden. As the U.S. election draws closer, such politically-themed digital currencies are attracting more attention.

3. Doland Tremp (TREMP)

Doland Tremp (TREMP) is another one of the popular Trump Themed Coins hosted on the Solana blockchain. Since its inception, it has captured the attention and the political humor-based community. This coin, humorously echoing a former U.S. president’s name, has soared by 269% following notable political events. 

Recently, Trump Themed recorded a 5% increase on the day. The token hovers at $0.453. The trading volume has surged to $17 million over the last 24 hours. Presently, Doland Tremp stands at the 2579th position on CoinMarketCap, with a market capitalization of $19 million.

The Relative Strength Index (RSI) is currently at 52, indicating that the asset is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing a slight bearish momentum, with its histogram plotting just below the zero line, suggesting a potential slowdown in bullish activity.