Investors Bet Big on TRUMP Token Amid Trump’s Cryptocurrency Donation Acceptance
- PoliFi Token Trump MAGA’s (TRUMP) surge creates instant millionaires, but risks loom for late investors.
- TRUMP token gains 90% in value due to speculative trading tied to Trump’s presidential campaign.
- TRUMP token sees a 14% spike after news of Trump’s campaign accepting cryptocurrency donations.
The nascent PoliFi sector, a burgeoning intersection of politics, finance, and cryptocurrency, has minted a new class of instant millionaires. This rise coincides with the recent surge of a politically charged token themed after Donald Trump, named Trump MAGA (TRUMP).
On-chain data provider Nansen reports a significant increase in the token’s value, potentially linked to speculative trading fueled by Donald Trump’s renewed presidential campaign activities.
When we go through the top 10 onchain TRUMP buyers in the past 24 hours, we find that the majority of addresses have a low avg ROI and win rate, with many having bought TRUMP in the past but have yet to make significant profits
— Nansen
This could mean these buyers are countersignals… pic.twitter.com/C2qZouBDV1(@nansen_ai) May 21, 2024
Despite no official endorsement from former President Donald Trump, th…
The post Investors Bet Big on TRUMP Token Amid Trump’s Cryptocurrency Donation Acceptance appeared first on Coin Edition.
