Donald Trump’s potential new digital token, DJT, has surged by an impressive 44.59% within the last 24 hours. There is growing speculation that Trump is eyeing the cryptocurrency market and could become known as the crypto president.
The crypto community has embraced the emergence of DJT, a meme coin inspired by former U.S. President Donald Trump, which operates on the Solana blockchain. The token’s value has skyrocketed amidst rumors suggesting it could be linked to Trump himself, although no official confirmation has been made. If proven true, this would mark a historic moment as the first instance of a U.S. presidential candidate launching their own cryptocurrency.
The latest buzz surrounding DJT was sparked by a tweet from The Pirate Wires, an American media outlet, just 9 hours ago. The tweet, labeled as a “community note,” dismissed the news as “fake,” while also hinting at Trump’s son, Barron, taking the lead on the token project.
Having been in circulation for two months, DJT has demonstrated impressive performance, with its price currently surging by 44.59% to $0.002868 in the past 24 hours. Trading volume has also seen a remarkable increase of 1521.47% to $369K, driven primarily by speculation and social media hype.
In addition to DJT, there are various other Trump-themed coins in the market. MAGA Coin, built on the Ethereum blockchain, is currently trading at $7.08, experiencing a decline of 39.01%. TRUMP coin, one of the earliest Trump-inspired cryptocurrencies, has dropped by 9.41% to $0.0006536. Trump Inu, a coin inspired by Shiba Inu and Dogecoin, is trading at $0.000006237, down by 12.55%. While these tokens share the common theme of Trump’s name for market appeal, they originate from different backgrounds.
Furthermore, Donald Trump recently proclaimed himself as the “crypto president” during a fundraising event in tech hub San Francisco. The role of cryptocurrency in the upcoming U.S. presidential election is gaining significant attention and scrutiny, with reports suggesting that Biden may participate in a Bitcoin roundtable scheduled for next month.
In other news, Tanzania has proposed amendments to its IT Act, including the introduction of taxes for crypto traders, marking a significant development in the country’s crypto regulations.