Trump-Themed MAGA Memecoin Rebounds: 'Imagine This Rips To $47 Over The Next 2 Weeks,' Trader Says

Cryptocurrency traders reacted with enthusiasm to the rebound of the Trump-related Maga Memecoin TRUMP/USD following the former President’s conviction.

What Happened: Crypto trader Pastry expressed confidence in the TRUMP token, jokedly writing “If your conviction in your bags isn't on the verge of delusion, you're doing it wrong. $TRUMP to $100.”

Another trader, McKenna, highlighted the undercurrent of enthusiasm surrounding TRUMP, stating, “TRUMP is just going to casually send to $1B FDV yet not a single soul on the timeline talking about it. Wild.”

With legal uncertainties reduced, capital flows into Maga Memecoin could increase substantially, according to Sistine Research. The trader wrote “Imagine this rips to $47 over the next 2 weeks,” stating that sidelined capital may have waited for the resolution of the trial and is now ready to enter.

Imagine this rips to $47 over the next 2 weeks.

A lot of capital wasn't taking a TRUMP position due to overhang of trial outcome.

That's gone now. Send it. pic.twitter.com/X3yVbn3sDe

— Sistine Research (@sistineresearch) May 30, 2024

Read Also: What Celeb Meme Coins Could Mean For Bitcoin’s Price

Why It Matters: The tweets predict that TRUMP is on the brink of significant growth, potentially reaching a market capitalization of $1 billion and beyond.

The meme coin dipped following the verdict but recovered to set a new all-time high of over $800 million in market capitalization within hours of the conviction. It is currently trading around $15 for a valuation of just below $700 million.

Jeo Boden BODEN/USD, the meme coin parodying President Joe Biden, has not been able to make up any ground on its rival, trading around 28 cents, down 5% on the day as per DexScreener. Its market capitalization stands below $200 million.

The election meme coin trading has taken attention away from established incumbents like Dogecoin and Shiba Inu, which are down 0.7% and 2.6% on the day, respectively.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Trump’s Maga Coin Jumps 7%, Coin Parodying Biden Sinks Despite Ex-President’s Conviction In Hush Money Trial —NFTs Also Show Strength

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image created using artificial intelligence with Midjourney.