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Following the performance of US President Joe Biden and former President Donald Trump on Super Tuesday, the crypto market is witnessing a surge in Trump and Biden-themed meme coins; among them STRUMP, MAGA, and BODEN.

Developers have been quick to seize the opportunity, introducing a series of meme coins, mainly on the Solana blockchain, based on prominent personalities, including Elon Musk, Kanye West, and Donald Trump.

A number of Trump-themed meme coins among them MAGA (TRUMP) and Super Trump (STRUMP), have been trending over the past few weeks.

Super Trump (STRUMP) has seen a 1469% surge over the past week while MAGA (TRUMP) has soared by 393% over the same period.

The two Trump-based memecoins are leveraging Trump’s victories in the Republic Party primaries where he remains as the only candidate after Nikki Haley dropped out of the race today.

A meme coin called BODEN, inspired by U.S. President Joe Biden, is among the trending meme coins. It witnessed an astounding 2841% surge in value on Wednesday morning on Raydium DEX where it trades as BODEN/SOL.

This surge was accompanied by a spike in daily trading volume, surpassing $23 million, as investors flocked to capitalize on the hype surrounding this novel cryptocurrency.

While meme coins offer the potential for high returns, they also come with significant risks. The coins are prone to rug pulls and exit scams as witnessed with the recent OrdiZK rug pull.

Nonetheless, the allure of quick gains has propelled meme coins into the spotlight, with Solana’s leading meme coin, dogwifhat (WIF), experiencing a notable 48% surge in value, outperforming popular tokens like Dogecoin (DOGE) and BONK.

The broader cryptocurrency market remains on edge following Bitcoin’s record-setting high of $69,325 on Tuesday, followed by a rapid and unexpected decline in prices. This downturn led to a staggering $1 billion worth of liquidations, with meme coins being among the hardest hit.

Notably, tokens like PEPE and DOGE experienced more than a 30% drop due to a liquidity crisis, although they have since shown signs of recovery.

The post STRUMP and BODEN lead Biden and Trump-themed meme coins Frenzy on Solana appeared first on Invezz

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