Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
The surge of the TRUMP token, which is not directly linked to Donald Trump, has created a new class of millionaires in the PoliFi crypto sector.
The Trump campaign announced it would begin to accept crypto donations, including bitcoin , ether , and meme coins dogecoin and shiba inu .politics, finance, and cryptocurrency converge, has minted a new class of millionaires as a token themed after Donald Trump surged in the past few weeks, analysis by on-chain data provider Nansen shows.
While the issuance of the TRUMP token has nothing to do with the former U.S. President Donald Trump directly, traders are using the tokens as a speculative bet on his ongoing presidential campaign.. It surged 14% on Tuesday as the Trump campaign said it would begin to accept crypto donations, including bitcoin , ether , and meme coins dogecoin and shiba inu .
From all this, some holders of the MAGA meme coin – the first experiment in a new category of tokens called PoliFi, which has aSeveral addresses purchased low six-figures in TRUMP tokens and are now sitting on unrealized gains of over $1 million. They are gradually trimming their holdings but not selling in a manner that could cause a sudden price dump. As such, these sales were made before Tuesday’s campaign donation announcement.
However, recent buyers of the TRUMP token are posting a poor return on investment and have a low overall win rate, the data showed.Sending tokens to a wallet linked to popular entities is sometimes used as a marketing strategy by meme coin makers, as they can attract eyeballs – and galvanize investor interest.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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