Trump, Biden meme coins surge after Trump meets with NFT holders

Meme coins inspired by current U.S. President Joe Biden and ex-President Donald Trump have experienced surges in the last 24 hours after Trump talked crypto at his NFT holders dinner.

CoinMarketCap data reveals that the Trump-themed meme coin, MAGA (TRUMP), skyrocketed by over 44%. Similarly, Jeo Boden (BODEN), a coin with a misspelled nod to President Joe Biden, increased by more than 22%.

CoinMarketCap’s meme coin market capitalization category page identified the top three meme coin gainers in the past 24 hours: Donald Tremp surged by 122%, MAGA increased by 44%, and Jeo Boden rose by 22%.

Contrasting these gains, Bitcoin (BTC) was trading around $60,800, reflecting a 2.4% decrease over the same period. Ethereum (ETH) also experienced a decline, dropping by over 1.4% to approximately $2,950.

The rally in presidential-themed meme coins comes after Trump announced Wednesday that he intends to accept cryptocurrency for campaign donations.

In multiple video clips posted to X by anonymous DeGods NFT holder Malcolm, the former President addressed a group of NFT buyers, expressing his support for crypto donations.

“If you can’t, I’ll make sure you can,” Trump said in a speech. “Can we donate to the Trump campaign using crypto? I believe the answer is yes.”

The announcement fueled the surge in Trump-inspired meme coins, emphasizing the growing intersection between cryptocurrency and political fundraising.

Trump has had many endeavors in the crypto space, including offering NFT cards across multiple chains, bashing CBDCs, and close to $3 million in crypto holdings.