Altcoin Sherpa, one of the leading analysts in the cryptocurrency world, predicts a remarkable movement in the meme coin markets as the US presidential elections approach. The analyst argues that the elections in November could lead to the rise of two particular meme coins, especially MAGA (TRUMP) and BODEN (Jeo Boden). These meme coins are inspired by the names of former President Donald Trump and current President Joe Biden, major figures on the American political scene.
Altcoin Sherpa, MAGA and BODEN tokens may show a stronger performance with election year excitement states. The analyst states the following on this subject:
“The current meme coin strategy for me is: concentrating on one sector, US politics. I own TRUMP and I want to buy BODEN. That should be the big narrative when the election stuff really kicks off towards the end of this year. Trump will constantly be in the news and doing his typical antics.”
While TRUMP symbolizes former President Donald Trump’s re-election bid, the BODEN token reflects current President Joe Biden’s re-election bid. Trump’s candidacy and Biden’s role in this process may have a significant impact on cryptocurrency markets. As the election process progresses, the values of these two meme coins may increase, while investors can shape their decisions by closely following political developments.
Additionally, blockchain analysis platform Santiment revealed a significant correlation between the price movement of the two meme coins and the behavior of the two candidates.
“Much of the blame for these latest meme coin rallies goes to Donald Trump and his pro-crypto supporters. As shown below, mentions of Trump as well as Biden have increased near the cryptocurrency’s native base as investors fear anti-crypto policies.”
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Finally, it is important to exercise caution when investing in such speculative assets. It should not be forgotten that political developments and election results may cause short-term fluctuations in cryptocurrency markets. Investors should always conduct their own research and make their decisions considering the risks and seek advice from their financial advisors or experts before any investment decision.
At the time of this writing, TRUMP is trading at $5.40, down more than 3% in the last 24 hours. BODEN is trading at $0.27 at the time of this writing.
You can access current market movements here.
