TrumpCoin (DJT) Surges 55% After News Of Trump’s Participation In Bitcoin 2024 Conference
2024年7月12日 - 12:30PM
NEWSBTC
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%. Related Reading:
Drake Loses Bitcoin Bet Following Canada’s Copa America Exit, ARG
Fan Token Soars 40% Trump Joins The Bitcoin Conference On July 10,
Former US president and Republican candidate Donald J. Trump was
officially announced as a keynote speaker at the Bitcoin 2024
Conference. The Bitcoin Conference will occur in Nashville,
Tennessee, between the 25th and 27th of July. 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, expressed 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. CryptoQuant’s CEO Ki Young Ju wondered
whether the former US president’s efforts were genuine: Is this a
strategy to gain votes, or is it a genuine effort to make the
United States a Bitcoin nation? Does anyone know? Despite the
skepticism, the crypto community seems optimistic about the news,
as Trump-inspired tokens soared last night. TrumpCoin And
Trump-Inspired Memecoins Soar 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 crash around 30%. 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. Related Reading: Football
Takeover? Solana-Based Token Skyrockets 350% Following Messi and
Ronaldinho’s Promotion Other Trump-inspired memecoins 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. Featured Image from Unsplash.com, Chart from
TradingView.com
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