Crypto analyst Altcoin Sherpa predicts that memecoins inspired by US politics could soar in the lead-up to the November presidential election.
Trump and Biden-Inspired Coins
MAGA (TRUMP) and Jeo Boden (BODEN) are two memecoins that have drawn attention due to their connection to former President Donald Trump and President Joe Biden, respectively.
Altcoin Sherpa believes that these coins could perform well due to the excitement surrounding the election. “Trump is going to constantly be in the news and doing his normal antics,” he said.
Correlation with Candidate Behavior
Blockchain analytics platform Santiment has observed a correlation between the price movements of these memecoins and the behavior of the candidates.
“Mentions of Trump soared near the cryptocurrency local bottom, along with Biden, who traders fear anti-crypto policies,” Santiment noted.
Current Prices
At the time of writing, TRUMP is trading at $5.40, down 7% in the last 24 hours. BODEN is trading at $0.303, slightly down on the day.
