As a researcher with a background in the crypto industry, I’m excited about the recent development of Donald Trump’s participation in the Bitcoin 2024 Conference. The news sent ripples through the crypto community, causing a significant surge in TrumpCoin and other Trump-inspired memecoins.
On Wednesdays, the value of TrumpCoin (DJT) significantly rose due to the unveiled news that Donald Trump would attend the Bitcoin 2024 Conference. This revelation triggered a price hike of more than 55% for TrumpCoin, while other memecoins influenced by Trump saw an almost 20% increase in value.
Trump Joins The Bitcoin Conference
Former U.S. President and Republican nominee Donald J. Trump has been confirmed as the headlining speaker at the Bitcoin Conference taking place in Nashville, Tennessee from July 25-27, 2024.
As a crypto investor, I’m excited to share that Robert F. Kennedy Jr., an independent presidential candidate known for his supportive stance on cryptocurrencies, is set to attend the upcoming major Bitcoin event. Additionally, Vivek Ramaswamy, a previous Republican candidate who has been vocal about his pro-crypto views, will grace the conference as a keynote speaker.
The head of Bitcoin Magazine and organizer of The Bitcoin Conference, David Bailey, showed great excitement about Trump’s involvement. In a recent post on X, he declared, “History will be altered on July 27th.”
Many people in the industry welcomed the news of Trump’s participation in the event. Yet, some industry players and financiers expressed doubts about Trump’s true motivations. CryptoQuant’s CEO, Ki Young Ju, raised questions about the authenticity of Trump’s involvement.
It’s unclear whether this approach is aimed at winning votes or sincere in making the US a Bitcoin-centric country. Can anyone provide insight into its true intentions?
In spite of the doubts expressed, the cryptocurrency world remains hopeful regarding the latest news, with Trump-linked tokens experiencing a surge in value during the previous night.
TrumpCoin And Trump-Inspired Memecoins Soar
The value of TrumpCoin surged in response to recent developments, reaching a new high of $0.013 – a level not seen since late June, based on information from DexScreener.
Approximately a month ago, there were contentious allegations about the launch of TrumpCoin, which DJT was reportedly connected to. Following these claims, numerous investors chose to offload a significant portion of their Trump-themed memcoins, leading to a substantial drop in value for these digital assets – approximately 30%.
During that period, Martin Shkreli, who went by the nickname “Pharma Bro,” asserted that he had connections to Donald Trump’s team. He specifically mentioned that Barron Trump, the former US president’s son, held a significant role in TrumpCoin.
As a diligent researcher, I uncovered some intriguing information regarding the origin of the mysterious token. Contrary to initial assumptions, it was ultimately revealed that Shrekli had orchestrated its creation. This revelation came to light through the meticulous work of cryptocurrency investigator ZachXBT, who exposed the scheme on X, shedding light on this hidden truth before Shrekli publicly acknowledged his involvement in the X Space.
Over the past, DJT’s value has been on a downward trend. In just the previous two weeks, there was a significant drop of 33%. Yet, the token experienced a 10% rise in value from its price the preceding day. Currently, it is being traded at $0.0086.
After the announcement, the value of MAGA (TRUMP) memecoin, as well as other coins inspired by former President Trump, experienced a significant increase. Specifically, MAGA surged from $5.74 to reach a price range between $6.54, marking a 15% growth in just hours and a 39.5% rise within the weekly timeframe.
As an analyst, I’ve observed that the value of MAGA Hat (MAGA) has experienced a significant surge in the market. The token previously traded at $0.00015 but has since risen to $0.00018, representing a 20% price hike. Furthermore, I notice that its performance has improved considerably over the past week, with a remarkable 50% increase in value from its previous price.
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2024-07-12 06:40