No one could have told that the crypto market would one day host meme coins inspired by political movements. Yet, here we are, with the MAGA (TRUMP) coin making Politi-Fi (political finance) cryptocurrencies a reality.
What’s more surprising is that the MAGA coin has already been embraced by plenty of crypto traders. This blog explains the nitty gritty of the MAGA meme coin and guides you on how to start trading it.
But before knowing what is MAGA memecoin, let’s explore what meme coins are and why they trend easily.
What are Meme Coins and Why are They Popular?
Meme coins are a type of cryptocurrency that's based on internet humor and viral trends. They started with Dogecoin in 2013, which featured the popular Shiba Inu dog meme.
Meme coins often have a very low value per token which makes it possible to own a lot for a few dollars. They're known for wild price swings, with values skyrocketing or crashing suddenly.
The success of meme coins heavily relies on social media hype and endorsements from celebrities. For instance, Elon Musk's tweets are known for their impact on cryptocurrency markets.
Meme coins often have massive supplies of tokens, take the 505.05 billion total supply of IQ50 coin as an example.
All these factors combined contribute to the massive hype of meme coins. They're particularly popular among younger investors who are drawn to their low prices and the chance to make huge gains due to their high volatility.
Investors prefer holding thousands of meme coins for just a few dollars over owning a tiny fraction of other coins for a large investment. For example, with $1, you can get 34,364 SHIB meme coins, while the same amount would only get you 0.000014 Bitcoin.
What is MAGA (TRUMP)?
The MAGA meme coin is a new cryptocurrency launched in August 2023. The MAGA coin takes its name from the slogan "Make America Great Again," made popular by Donald Trump during his election campaign.
The project also keeps donating to a number of charity programs. So far, MAGA has donated 202.75 ETH to United States Veterans and 172.5 ETH to Child Trafficking Prevention, as per the official website.
The marketing director of MAGA crypto, Steven Steele has expressed his objective to take the MAGA coin to the same level as popular meme coins like DOGE and SHIB.
Just last month, the TRUMP crypto coin saw a massive price jump of 400% in a month. The coin's value fluctuates based on Donald Trump's actions and news. This dependence on a single political entity creates problems for investors in making predictions for successful trades.
TRUMP Tokenomics
Despite its value being influenced by an unpredictable person like Donald Trump, the MAGA coin has been a success overall. Here’s what the TRUMP tokenomics show:
Total Market Cap: $223.5 Million
24-Hour Trading Vol: $41.67K
Circulating Supply: 42.05 Million Tokens (89.47%)
Total supply: 47 Million Tokens
Key Features of MAGA (TRUMP)
The MAGA coin is a bit different player in the broader meme coins market. Take a look at its key features to know why.
- Support for Trump: Despite being officially unaffiliated with Donald Trump, a portion of MAGA Tokens is dedicated to supporting Trump and his movement.
- Charity Focus: The MAGA coin project supports charities such as Veterans for Child Rescue and National Veterans Homeless Support by donating them Ethereum coins.
- Transaction Tax: MAGA has set a 1% tax on all transactions (buys, sells, transfers) to fund marketing, development, donations, and liquidity.
- Donald Trump As The Driving Force: The coin’s value fluctuates based on news and events surrounding Donald Trump, according to Steven Steele’s observation.
- Roadmap is the Election Season: The project is eyeing the upcoming presidential elections in the United States when the MAGA coin is supposed to see the highest activity.
Recent Trends in MAGA (TRUMP)
Since its launch in March 2023, the TRUMP token has seen a massive 92.05% price change, mostly in the positive direction.
In the initial months, MAGA’s value kept fluctuating way below half a dollar. The coin suddenly started soaring after mid-January when its value crossed $1 for the first time. After that, the coin saw a perpetual rise in value and crossed $6 by the end of February.
MAGA’s to the moon moment came on 4th March 2024, when the prices hit an all-time high of $11.53. Since that point, the coin has been gradually declining with the value fluctuating with a difference of about 1-2 dollars each day.
At the time of this writing, the coin is trading at $4.761 on CoinEx.
How to Buy and Trade TRUMP Tokens?
CoinEx is a global cryptocurrency exchange trusted by over 5 million consumers globally, with 100% reserve. With over 1,000 tokens available, including TRUMP, users may trade effortlessly. TRUMP was listed on CoinEx on February 9, 2024, at an initial price of $2.619 USD, marking an impressive overall change of +71.35%.
Buying and Trading TRUMP tokens on CoinEx is pretty simple. Just follow these easy steps:
- Sign Up for CoinEx: Create an account on CoinEx by signing up.
- Add Funds to Your Account: Once your account is set up, log in and deposit funds supported by CoinEx.
- Go to the TRUMP Token Page: With your account funded, head over to the TRUMP token's page on CoinEx. Use the search feature and simply enter the term "TRUMP" to find TRUMP’s trading pairs.
- Select Your Trading Pair: For trading TRUMP, choose the TRUMP/USDT pair to trade TRUMP for USDT (Tether).
- Enter Your Trade Amount: Decide on the number of TRUMP tokens you wish to buy and enter this amount. The trading interface will show the cost at the current market rate.
- Confirm and Execute Your Trade: After setting up everything, review your trade details. Once the details are verified, confirm and place your order to buy TRUMP tokens.
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