Meme Coin Named After Donald Trump Surges 50% After Ex-President Says No To CBDCs
Portfolio Pulse from Mehab Qureshi
The meme cryptocurrency named after Donald Trump, TRUMP, surged 50% following his statement against central bank digital currencies (CBDCs). Trump's declaration came during a campaign event in New Hampshire. The TRUMP token has a market cap of $39.81 million, a liquidity pool of $1.57 million, and a circulating supply of 46.50 million tokens. The trading volume over the past 24 hours reached $1.41 million. The coin, which is not affiliated with Donald Trump, saw its market cap exceed $30 million on January 16 after Trump's Iowa Caucus victory.
January 18, 2024 | 10:46 am
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NEUTRAL IMPACT
Bitcoin (BTC) experienced a slight decrease of 0.15% in the last 24 hours, trading at $42,662. The news about the TRUMP meme coin does not directly impact Bitcoin's price.
While the TRUMP meme coin's surge is notable, it is unlikely to have a direct impact on Bitcoin's price in the short term. Bitcoin's market dynamics are influenced by a broader set of factors than the performance of a single meme coin.
CONFIDENCE 80
IMPORTANCE 5
RELEVANCE 10