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A memecoin on Donald Trump - MAGA, has reportedly hit 100,000 holders across all chains, exactly the week of the US Elections.
Author: Sahil Thakur
Written On: Mon, 04 Nov 2024 04:11:49 GMT
A memecoin on Donald Trump ā MAGA, has reportedly hit 100,000 holders across all chains. This comes at a very opportune time with the US Presidential elections this week.
The memecoin is famous for the good deeds it sponsors like US Veteran help and child trafficking prevention. So far, there have been donations worth more than $2 million through MAGAās Trump coin.
According to a recent article on Political coins on Kucoin:
The MAGA (TRUMP) token is a politically themed memecoin inspired by Donald Trumpās āMake America Great Againā slogan. Launched on the Ethereum network, it has attracted both Trump supporters and crypto enthusiasts. While not officially associated with Trump, the token capitalizes on his brand and public image to generate interest. As of October 2024, MAGA trades at around $4.37, with a market cap near $200 million. It has shown significant volatility, reaching an all-time high of $17.51 in July 2024. The tokenās performance remains highly speculative, often influenced by political events and Trumpās public activities.
The MAGA token primarily serves as a speculative asset within the PolitiFi market, engaging communities through meme culture and political satire. Additionally, the decentralized autonomous organization (DAO) behind MAGA has allocated funds from token sales to charitable initiatives, such as supporting homeless veterans and fighting child trafficking. This mix of speculative investment and social impact has broadened the tokenās appeal.
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