A widely respected cryptocurrency trader says two memecoins could soar ahead of the US presidential election in November.
Pseudonymous cryptocurrency analyst Altcoin Sherpa says 216,000 followers on social media platform
TRUMP was created inspired by former President Donald Trump, who is running for president again. BODEN takes inspiration from US President Joe Biden, who is running for re-election against Trump, citing the misspelling of his name.
“The current meme strategy for me is to focus on one area: American politics. I own TRUMP and would like to buy BODEN. That will be the biggest story when the election actually gets underway later this year. Trump will continue to be in the news and do his usual antics.”
Meanwhile, blockchain analysis platform Santiment fist A clear correlation between the price action of the two memecoins and the actions of the two candidates.
“A lot of the credit for the recent rise of memecoins lies with Donald Trump and his support for cryptocurrencies. As you can see, Trump mentions soared near the cryptocurrency local bottom with traders fearing Biden’s anti-crypto policies.”
TRUMP is trading at $5.40 at the time of this writing, down more than 7% in the last 24 hours. BODEN is trading at $0.303 at the time of writing, down slightly on the day.
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