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Super Trump (STRUMP), after its launch on the Solana platform, experienced a remarkable rise with an increase of over 300%. This rise was not an isolated event. It reflected a broader trend in the meme coin market, particularly in the ‘PoliFi’ coins that intertwine politics and finance. On May 29, STRUMP saw another impressive rise, increasing by over 300% and emerging as one of the most trending coins on CoinMarketCap.
Massive Growth in Meme Coin
The exponential growth of STRUMP in the past few days was surprising, with gains exceeding 350%, raising its value from below $0.005 to over $0.02. This rise indicates the momentum in the PoliFi ecosystem, where meme coins associated with political figures like Donald Trump have seen significant value increases.
Meme coin observer Tyler highlighted the significant increases recorded by various coins associated with Donald Trump on May 29. Among them were TRUMP, MAGA, BODEN, and STRUMP, each achieving substantial gains, with STRUMP leading with an astonishing 186% increase in market value.
Support for Presidential Candidate Trump
The STRUMP project itself signaled the community’s strong commitment to the former president by allocating 0.8% of its wallet to Trump. Trump’s vocal support for cryptocurrency resonated positively within the crypto community, potentially contributing to the resurgence of tokens bearing his name or brand.
Notably, STRUMP’s rise gained further momentum after its launch on the Solana Blockchain following its initial debut on Ethereum in March. Within just 24 hours after the Solana launch, STRUMP garnered significant support, achieving a market value of approximately $4 million and a trading volume nearing $1 million, marking an impressive increase of about 486%.
STRUMP, despite its meteoric rise, experienced a cooling period after reaching its peak, with its value dropping to $0.006 at the time of writing, about 50% lower than the record high of $0.012 achieved earlier in the week. This fluctuation reflects the volatile nature of meme coins and the cryptocurrency market as a whole, where rapid gains can be followed by significant corrections.
