Super Trump (STRUMP) is a cryptocurrency that utilizes blockchain technology to honor Donald Trump’s political legacy as the 45th President of the United States and the Republican candidate in the upcoming elections. STRUMP operates on a decentralized platform to establish a digital asset ecosystem supporting Trump’s principles, including a free market economy and limited government.
As of the latest update, the price of STRUMP was $0.02248, marking a 19.85% increase in the last 24 hours and a surge of over 500% in the past month. While this price is lower than the $0.028 from a week ago, overall performance remains strong. What factors are contributing to the recent rally in STRUMP’s price?
Memecoin market effect on STRUMP price
Memecoins have outperformed every other type of cryptocurrency during this market cycle. Traditional investors are surprised that meme coins, which are highly speculative assets, have performed better than altcoins with solid fundamentals. This trend has been consistent with each upward market movement.
The STRUMP token, in particular, has a simple tokenomics model, unlike the complex unlocking schedules typical of more established altcoins. Simple token models are common among meme coins, particularly STRUMP.
According to the official site, there is a 0.3% tax, and 0.8% goes to the Donald Trump wallet as a show of support for Trump. The creators of the memecoin hold strong political principles and express confidence that “he’ll reclaim the throne and Make America Great Again” this year.
Trump memecoins are on the rise
There are numerous Trump-related memecoins in the market, with MAGA and STRUMP being the most successful. However, not all Donald Trump memecoins are performing well. STRUMP has thrived due to the widespread interest in Trump-related memecoins, driven by Trump’s popularity. He is currently leading in all swing states.
According to Forbes Magazine, the outcome of the presidential election largely depends on the six swing states that Biden won in 2020. Currently, Trump is ahead in all of them, with only six months remaining until the general elections.
During the recent TRUMP rally in Las Vegas, STRUMP made a significant impact with extensive billboards and marketing initiatives.
While the STRUMP memecoin faces potential downward trends and resistance, the mixed technical signals reflect uncertainty in its market movements. The team is actively promoting STRUMP, and with Donald Trump’s successful campaign, it is expected that the price will continue to rise.
