- MAGA rose considerably following feedback made by former US President Donald Trump.
- The brand new meme coin rose 20% final Friday, dwarfing the returns of Dogecoin and Shiba Inu.
- Donald Trump acknowledged that Bitcoin is rising in popularity in commerce.
MAGA, the newly launched meme coin impressed by Donald Trump, has soared following feedback from the previous US president that hinted at a brand new outlook for Bitcoin and cryptocurrencies. MAGA rose 20% final Friday, dwarfing the returns of different extra established meme cash like Dogecoin and Shiba Inu, which every rose solely 2% on the identical day.
MAGA was launched on August 11, 2023, and its creators described it as a meme coin to “make crypto nice once more.” Nevertheless, it is very important notice that there aren’t any stories of an official relationship between MAGA and the previous president.
The meme coin's latest rally comes after President Trump expressed extra relaxed sentiments in direction of Bitcoin final Wednesday. On Fox Information' “The Ingraham Angle” with Laura Ingraham, President Trump mentioned Bitcoin “has taken its personal life.” Based on the previous president, the world's main cryptocurrency now wants regulation.
Notably, President Trump acknowledged Bitcoin's rising reputation in commerce. Based on him, many individuals have accepted this main cryptocurrency. He additionally identified that increasingly individuals need to pay utilizing Bitcoin.
Based on TradingView knowledge, MAGA was buying and selling at $4.6691 on the time of writing, rebounding from its all-time excessive (ATH) of $5.4991. The novelty meme coin continued its bullish momentum from final Friday to achieve its ATH, rising practically 80% earlier than the pullback.
Final week's rally additionally marks the continuation of MAGA's sustained rally since early 2024. Memecoin began the 12 months at $0.29 and has been on a primarily upward trajectory since then, rising greater than 2,100% in lower than two months.
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