Super Trump (STRUMP) meme coin has rocketed more than 240% in the past 24 hours to stand out among top meme tokens. STRUMP was trending alongside Notcoin and cat in a dogs world (MEW) as its price reached highs of $0.02298.
The parabolic gains come amid recent news about Trump’s wallet and the former US president’s increasingly crypto-friendly campaign. Super Trump, which is now 330% up in the past two weeks, currently trades at $0.01845.
According to data from CoinMarketCap, the meme token’s market cap has jumped more than 266% in the past 24 hours to $34 million.
Super Trump rockets as it launches on Solana
While not affiliated with Trump, Super Trump pays homage to the 45th US President’s legacy and supports his bid for a second term. The meme coin’s governance allows for a distribution of transaction fees to a Donald Trump wallet.
Recently, on-chain details showed that a crypto wallet linked to the former president held crypto assets worth over $10 million.
The assets included MAGA tokens and Ethereum, with blockchain analytics firm Arkham sharing data that indicated $7.1 million in the MAGA (TRUMP) token and roughly $1.8 million in ETH.
STRUMP also rocketed as the meme coin launched on Solana, with the latest gains putting it among biggest meme coins on the network.
GM #STRUMPARMY
We are not even 24 hours past the #SUPERTRUMP launch on #SOLANA and already have great support around 4 million MC. Almost 1 million in volume and up 485.970%!
We have a lot of surprises coming soon!
We are the ONLY REAL #SuperTrump
(on #ETH & #SOL now) 🥳 pic.twitter.com/RKZGIqrodH— Super Trump Coin (@SuperTrumpCoin) May 27, 2024
STRUMP surges amid Donald Trump’s crypto-friendly stance
Meme coins such as MAGA (TRUMP) and Jeo Boden (BODEN) have witnessed parabolic price gains in recent months. The trend has strengthed as crypto holders become increasingly vocal about their preferred candidate for US president in upcoming elections.
Super Trump, like other meme tokens inspired by Donald Trump, is getting the most attention as the Republican Party candidate signals a more crypto-friendly stance.
In recent campaign remarks, Trump pledged to make the US a global leader in crypto and blockchain innovation. Meanwhile, he heavily criticized Joe Biden’s regulatory approach as one targeted at causing a “slow and painful death” for crypto.
Donald Trump has also promised to support US crypto holders’ right to self-custody their Bitcoin and other assets. If elected, he will also never allow the creation of a central bank digital currency (CBDC) in the country.
Trump’s increased support also includes a pledge to release jailed Silk Road founder Ross Ulbricht.
Amid Trump’s more open outlook for crypto if he’s elected, industry observers are saying November’s election could be the first where crypto becomes a huge deciding factor.
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