Memecoins linked to former President Donald Trump saw a notable uptick on Sunday following President Joe Biden's announcement.
Memecoins linked to former President Donald Trump saw a notable uptick on Sunday following President Joe Biden's announcement that he will not seek re-election and will withdraw from this year's presidential race.
On Sunday, Solana-based Trump memecoins, Doland Tremp (Tremp) and TrumpCoin (DJT), rose by 10.5% and 6.5% respectively, shortly after Biden made his announcement on X. Both Tremp and DJT reached their highest levels since the attempted assassination of Trump at a rally in Pennsylvania on July 13. Tremp surged to $0.54, while TrumpCoin touched $0.008.
Similarly, the Ethereum-based memecoin MAGA (MAGA) increased by over 11%. However, MAGA (TRUMP), the leading Trump-related memecoin, failed to rally significantly and instead fell 8.8% in the past 24 hours.
In his announcement, Biden expressed his gratitude for the opportunity to serve as President, writing, "It has been the greatest honor of my life to serve as your President. I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term." Following Biden's announcement, the Solana-based memecoin Jeo Boden (BODEN), inspired by President Biden, plummeted by 58% in the past 24 hours.
In a separate tweet, Biden formally endorsed Vice President Kamala Harris as the Democratic Party's nominee, which led to a surge in the Solana-based memecoin Kamala Horris (KAMA). KAMA jumped over 100%, hitting a new all-time high just above $0.02.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
