NAIROBI (CoinChapter.com)—Trump’s win in the 2024 presidential election has triggered a wave of gains for Trump-themed memecoins. Tokens like TRUMP (MAGA), MAGA (MAGA), and DADDY TRUMP (TADDY) have soared as traders bank on Trump’s potential pro-crypto policies.
MAGA Token Leads the Pack with 52% Jump
The MAGA token, one of the top Trump-themed assets, surged 43% in the last 24 hours to $0.0646, reaching a market cap of around $178,000.
Social volume (light blue bars) and social dominance (red line) for MAGA have spiked recently, especially following Trump’s election victory, indicating rising interest.
Crypto analyst, Thomas Apollo X highlighted MAGA’s rising visibility on social media, noting potential listings on Kraken and KuCoin. He also advised holders to stay patient amid market volatility, pointing to MAGA’s “accumulation zone” as a sign of steady growth.
TRUMP (MAGA) Token Faces 14% Dip Amid High Trading Volume
The TRUMP (MAGA) token, a leading Trump-themed memecoin, saw a 14.29% decline in the past 24 hours, trading at $2.95. Despite this drop, trading volume spiked by 264.93%, reaching $48.42 million, indicating ongoing market activity and interest in the token.
According to Santiment data, MAGA’s Daily Active Addresses rose sharply this week, with addresses climbing from 903 on Nov. 1 to over 2,600 on Nov. 5, marking a peak not seen since July.
Santiment’s Supply Distribution metric shows that wallets holding between 1 million to 10 million TRUMP tokens increased from 10.88 million to 16.05 million, reflecting rising interest among large investors.
DADDY TRUMP (TADDY) Outshines with Massive 112% Surge
TADDY token surged 112.72% in the past 24 hours, reaching $0.0002071, as traders rally around Trump’s election win.
Analysts on X have noted that TADDY’s upward momentum could continue if Trump maintains his lead in key election polls. With the memecoin market closely watching Trump’s next moves, TADDY could serve as a bellwether for the “Trump Trade” narrative, especially as Trump’s crypto-friendly platform gains more visibility.
Crypto analyst Market Omega suggests Trump-linked tokens could reach new highs as enthusiasm builds around Trump’s next moves.
Bitcoin Surges to New All-Time High
Bitcoin reached a new all-time high, finally breaking past $70,000 after days of resistance. It’s up 9.2% in the last 24 hours, now trading at $74,550, with a peak today of $75,011.
Bernstein analyst Gautam Chhugani suggested Trump’s pro-crypto stance might also lift Bitcoin prices, forecasting a possible rally to between $80,000 and $90,000 over the coming months. Had Vice President Kamala Harris won, Chhugani warned Bitcoin might have dropped to as low as $50,000 due to the current administration’s tighter stance on crypto regulation.
As Trump’s administration sets the stage, investors are eager to see if these tokens will hold their gains and how broader cryptocurrency policies may evolve.
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