YEREVAN (CoinChapter.com) — The Trump-linked digital wallet associated with Republican presidential candidate Donald Trump has seen a significant rise. Starting the week at $9 million, the wallet’s value surged to over $11.9 million by Tuesday night. This increase follows a dip below $10 million earlier in the week. The wallet’s all-time high was around $33 million earlier this month.
Trump Wallet Surges with Memecoin Gains and Donations
Recent data from Arkham Intelligence reveals that the wallet’s recovery aligns with a significant spike in the memecoin sector.
Arkham data also highlights ongoing donations to the Trump-linked wallet. The wallet continues to receive Ether and other memecoins in small batches from various donors, including significant inflows from a wallet named “Save America.”
Popular memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) have seen substantial gains. DOGE added 6.6% in the last 24 hours, SHIB increased by 4.5%, and FLOKI climbed by over 7%, according to CoinGecko.
Tuesday night witnessed impressive performances from several memecoins. PEPE surged by 16.0%, WIF by 16.3%, and BRETT by 16.7%, marking a notable increase of over 25% in the past week. Most other top memecoins in the market were also in the green, contributing to the overall positive trend.
PolitiFi Tokens Surge Alongside Bitcoin Recovery
In addition to traditional memecoins, PolitiFi tokens, which are memecoins based on political figures or movements, have also experienced a notable rise. Trump Mania (TMANIA) coin led the pack with a 54.2% increase. Following closely were MAGA Hat (MAGA) with a 48.2% rise and Doland Tremp (TREMP), which climbed by 33.5%. Other PolitiFi tokens, including Jeo Boden (BODEN), also saw increases, with BODEN spiking by 11.5%.
The memecoin and PolitiFi token surge coincided with Bitcoin’s recovery. After dropping below the $60,000 mark, Bitcoin bounced back above $62,000. This recovery followed a slump caused by market fears and significant liquidations by large holders.
Trump Bitcoin 2024 Rumors Fuel Memecoin Buzz
Another factor contributing to the memecoin frenzy is a report suggesting that Trump might speak at Bitcoin 2024, an event organized by Bitcoin Magazine. Although Trump’s appearance has yet to be confirmed, the possibility has generated buzz within the crypto community. A potential stage-sharing with BTC advocate and presidential contender Robert F. Kennedy Jr. is anticipated.
