KEY POINTS
- FreeTrump logged a 24.8% spike in the past day amid a 25% week-long increase
- MoonTrump saw its trading volume spike by over 3,000% in the last 24 hours
- Pepe Trump recorded a whopping 9,938% in the last seven days
Most PolitiFi memecoins have been down in recent days as the world's top cryptocurrencies continue to struggle to escape the red line. The red wave covering politics-themed tokens has affected even some of the most popular memecoins in the segment, but three tokens based on Republican presidential candidate Donald Trump have emerged unscathed even as the Democratic National Convention is underway.
Political tokens in red wave
Many political-themed memecoins have been down by double digits in the past week, including the ever-popular MAGA ($TRUMP) coin, which is the second-largest PolitiFi token on CoinGecko. Rising star Doland Tremp ($TREMP) has also been down by over 20% in the past week, and Kamala Harris-based Kamala Horris ($KAMA) saw a 43% drop in the last seven days.
FreeTrump spikes
The FreeTrump ($TRUMP) token, which is most popularly traded on Uniswap V2 (Ethereum), as per CoinGecko, saw a 24.8 spike in the last 24 hours following a week-long rally of over 25%, data from late Tuesday night showed.
The coin has since retreated by 14%, signifying the volatility of crypto memecoins, especially during the heat of political campaigns.
MoonTrump holds green line
Another Trump-themed token, MoonTrump ($TRUMP), climbed by 26.7% in the last day. It was already on a 15.9% rally in the past seven days before the overnight spike. As of early Wednesday, the token remains in the green line and logged an over 3,000% increase in trading volume in the last 24 hours as per CoinGecko.
The token is popular among Raydium traders and has a steadily growing following on X.
Pepe Trump soars
Among the Trump-based tokens that gained in the last 24 hours, one reigned supreme: Pepe ($TRUMP), which logged an impressive 91.4% surge in the past day – behind a staggering 9,938% spike in the last seven days.
The token has a good following on social media and is most popular among crypto users on PancakeSwap (v2). The memecoin logged a 4.90% increase in trading volume in the past day and as per CoinGecko, has been outperforming the global crypto market in the past week.
Eric Trump builds hype for new project
The continuing rally of several Trump-themed memecoins comes as the crypto industry waits for the formal announcement from Trump's children regarding their upcoming project. The former president's two sons, Eric and Donald Trump Jr., previously announced that they are working on a "huge" decentralized finance (DeFi) project.
Late on Tuesday, Eric took to X to whip up excitement for the project, saying they were "almost ready" to make "some big announcement" regarding their digital asset-related project. He encouraged crypto users to join the project's Telegram group to keep up with developments.
Almost ready to make some big announcements regarding the Crypto project… Getting very excited. Make sure you are in our Telegram group…
— Eric Trump (@EricTrump) August 21, 2024
Trump continues to woo crypto voters
As the aging president continues to gear up for the November elections, he has been including crypto in his speeches. In Pennsylvania, hours before the DNC kicked off, he once again reiterated the importance of the U.S. leading the crypto space or China and other emerging powers will ultimately grab the opportunities offered by the industry.
🚨🇺🇸TRUMP: WE MUST STAY AT THE FOREFRONT OF CRYPTO; IF NOT, CHINA WILL TAKE THE LEAD
— Mario Nawfal (@MarioNawfal) August 19, 2024
"To power our country into the future, including the growing electricity demands of AI and cryptocurrencies—a topic that's becoming increasingly important—we must stay at the forefront.
If we… https://t.co/nehH2VgerD pic.twitter.com/wKoqPS31Ri
Earlier this month, he said the Bitcoin ecosystem is "very secure," making Bitcoin a possible debt-resolving asset to support the U.S. dollar.
The Republican Party's 2024 platform highlighted crypto as one of its three top innovation priorities. On the other hand, it remains to be seen whether Trump, if elected, will stay true to his promises of supporting the crypto sector's growth.
