A meme coin known as MAGA TRUMP/USD saw a 20% surge in value in the last 24 hours, outperforming more established players like Dogecoin DOGE/USD and self-proclaimed ‘Dogecoin Killer' Shiba Inu SHIB/USD.
What Happened: DOGE and SHIB were up 2% each on Friday. Presently, MAGA is trading at $3.63.
Launched on Aug. 11, 2023, MAGA entered the crypto space describing itself as a meme coin to “Make Crypto Great Again.”
It should be noted that the token does not have any official connection to former President Donald Trump.
This rally in MAGA comes as Trump on Wednesday showed a softer approach to the leading cryptocurrency, Bitcoin BTC/USD.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: During an interview with Laura Ingraham on Fox News’ “The Ingraham Angle,” Trump said that Bitcoin has “taken a life of its own, you probably have to do some regulation."
Moreover, Trump recognized a growing inclination towards Bitcoin in commercial transactions. “Many people are embracing it. And more and more, I'm seeing people wanting to pay [with] Bitcoin,” he said, observing the cryptocurrency’s evolving stature.
Benzinga’s Note: Investors should do their own due diligence before investing in tokens, particularly ones named after famous figures or brands.
Price Action: At the time of writing, BTC was trading at $51,050, up 0.35% over the past 24 hours, as reported by Benzinga Pro.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
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