New Trump Meme Coin is Up 20,000% and Crypto Traders Say This Lesser Known Crypto is Next – Here's Why
As Donald Trump continues to dominate headlines, and meme coin markets haven't skipped a beat as a new Trump (MAGA) meme coin surges +20,000% on-chain.
This comes amid the State of Georgia v. Donald Trump indictment case, which saw Trump surrender to authorities in Georgia for a now infamous mug-shot and paperwork processing on August 24.
Trump has agreed to post bond to the tune of $200,000, and stated he would refrain from antagonizing the situation on social media until trial.
However, in the days since, the Trump campaign have managed to net more than $9.4m selling merchandise such as t-shirts featuring his mug-shot.
The sensation around the mug-shot helped fuel $MAGA from a $250k to a $5m market cap - to the delight of eagle-eyed DEX traders.
Amid the frenzied media circus, MAGA has undertaken an explosive recovery rally, leaving Trump token trading at a current market price of $0.0875 (representing a 24-hour change of +24.37%).
This comes after a seismic -80% retracement from an all-time high at $0.15 on August 27.
But a strong display on August 29 saw bag-holders mount a well-defended double-bottomed consolidation, priming technical structure to undertake the ongoing second rally.
So far MAGA has pushed up +195% from the depths of consolidation, providing relief to bag-holders are buy pressure remains strong representing 73% of transactions over the last hour.
The explosion from $250k to $5m in market cap has been driven by a flood of more than $513k in trading volume over the last 24-hours.
And with almost 1,500 dedicated bag-holders - price action seems in strong form, continuing to push up on the hourly.
With few signs of a scam, Trump has emerged as a breakout DEX token, but while DEX traders play with big risk, more
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