2024

Bitcoin

TrumpCoin

TrumpCoin (DJT) surged on Wednesday following the news of Donald Trump’s participation in the Bitcoin 2024 Conference. The announcement propelled the token’s price by over 55% while other Trump-inspired memecoins increased by nearly 20%. 
<h2 style="font-weight: 400" id="trump-joins-the-bitcoin-conference">Trump Joins The Bitcoin Conference</h2> 
On July 10, Former US president and Republican candidate Donald J. Trump was officially announced as a keynote speaker at the <a href="https://www.newsbtc.com/bitcoin-news/binance-bought-41000-btc-save-bitcoin-market/" target="_blank" rel="noopener ">Bitcoin</a> 2024 Conference. The Bitcoin Conference will occur in Nashville, Tennessee, between the 25th and 27th of July. 
<img loading="lazy" decoding="async" class="size-large wp-image-629349" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Captura-de-Pantalla-2024-07-11-a-las-1.02.53-p.-m.png?w=599&amp;resize=599%2C537" alt="TrumpCoin" width="599" height="537" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Captura-de-Pantalla-2024-07-11-a-las-1.02.53-p.-m.png?w=599&amp;resize=599%2C537 599w, https://www.newsbtc.com/wp-content/uploads/2024/07/Captura-de-Pantalla-2024-07-11-a-las-1.02.53-p.-m.png?w=460 460w" sizes="(max-width: 599px) 100vw, 599px" data-recalc-dims="1"> 
Crypto-friendly Independent Presidential Candidate Robert F. Kennedy Jr. will also participate in the upcoming event. Moreover, former pro-crypto Republican candidate Vivek Ramaswamy will join the largest Bitcoin conference in the world as a keynote speaker. 
The CEO of Bitcoin Magazine, the organizer of The Bitcoin Conference, <a href="https://x.com/DavidFBailey/status/1811181384997756995" target="_blank" rel="noopener nofollow">expressed</a> his enthusiasm for Trump’s participation. “July 27th we change the course of history,” David Bailey stated in an X post. 
The news of Trump’s involvement in the event was well-received by many industry figures. However, other industry members and investors questioned Trump’s intentions. &nbsp;CryptoQuant’s CEO Ki Young Ju <a href="https://x.com/ki_young_ju/status/1811186661927068120" target="_blank" rel="noopener nofollow">wondered</a> whether the former US president’s efforts were genuine: 
<blockquote> 
 Is this a strategy to gain votes, or is it a genuine effort to make the United States a Bitcoin nation? Does anyone know? 
</blockquote> 
Despite the skepticism, the crypto community seems optimistic about the news, as Trump-inspired tokens soared last night. 
<h2 style="font-weight: 400" id="trumpcoin-and-trump-inspired-memecoins-soar">TrumpCoin And Trump-Inspired Memecoins Soar</h2> 
TrumpCoin’s price quickly reacted to the news, skyrocketing 55%. The token hit the $0.013 resistance level for the first time since June 27, according to DexScreener data. 
DJT saw a controversial launch nearly a month ago after online reports claimed TrumpCoin was the “official” Trump token. As a result, many investors sold most of their Trump-inspired memecoins, making them <a href="https://www.newsbtc.com/meme-coins/trump-inspired-memecoins-crash-30-after-rumors-of-trumps-official-token-launch/" target="_blank" rel="noopener ">crash</a> around 30%. 
&nbsp;At the time, Martin Shrekli, also known as “Pharma Bro,” claimed that the token was officially related to Trump’s camp. Shrekli stated that Barron Trump, son of the former US president, was closely involved with TrumpCoin. 
However, it was later revealed that Shrekli was behind the token. Crypto sleuth ZachXBT exposed the scheme on X, uncovering the truth before Shrekli admitted his involvement in an X Space. 
Since then, DJT’s price has gone on a descending trajectory. The token has seen a 33% decrease in the last two weeks. However, it registers a 10% increase from its price 24 hours ago, currently trading at $0.0086. 
Other Trump-inspired <a href="https://www.newsbtc.com/news/crypto-presidential-rally-trump-soars-36-2-and-flips-boden/" target="_blank" rel="noopener ">memecoins</a> also surged after the news. MAGA (TRUMP) rose from the $5.74 to the $6.54 price range in the following hours. The price action represented a 15% and 39.5% surge in the daily and weekly timeframes. 
Similarly, MAGA Hat (MAGA) registered a 20% price increase, going from trading at $0.00015 to $0.00018. MAGA’s performance saw a 50% increase from its price a week ago. 
<img loading="lazy" decoding="async" class="size-large wp-image-629346" src="https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=860&amp;resize=860%2C460" alt="TrumpCoin" width="860" height="460" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=1102 1102w, https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=860&amp;resize=860%2C460 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/DJTUSDT_2024-07-11_08-38-16.png?w=750 750w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1">

TrumpCoin (DJT) Surges 55% After News Of Trump’s Participation In Bitcoin 2024 Conference

Table of Contents

NewsBTC

Other articles published on Jul 12, 2024

BlockDAG Offers Chance to Earn $60,000 with X100 Mining Rig: Can Render & ICP Keep Up?

BNY Exceeds Q2 Expectations with $1.52 EPS and $4.6 B in Revenue

SHIB Burn Rate Sees A Massive 4000% Surge Amidst ETF Buzz

BlockDAG’s CEO & Team Reveal Drives Presale to $57.4M Amidst Declining Prices for Aptos and Render

Bitfarms calls October shareholder meeting amid attempted Riot takeover

Final signoff on spot Ether ETFs expected imminently, listings next week — Source

Join our free newsletter for daily crypto updates!