TL;DR

The Donald Trump-themed meme coin Doland Tremp (TREMP) reached a new all-time high after positive news about the billionaires presidential campaign. The former political leader has softened his stance on digital assets, describing himself as the candidate of the pro-crypto voters.

Another Trump-Themed Meme Coin Took off

The cryptocurrency market is well in the green today (May 17), with numerous leading digital assets such as Solana (SOL), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) witnessing substantial gains. 

However, the situation in the meme coin sector is not as bullish, with only a few exceptions recording daily increases. One such asset is Doland Tremp (TREMP), which exploded by 60% in the past 24 hours, hitting a new all-time high of $1.07 (per CoinGeckos data).

TREMP Price, Source: CoinGecko The impressive surge of the token related to the former president of the United States coincides with some major news surrounding his campaign. The billionaire, who will challenge the current political leader, Joe Biden, in the upcoming presidential elections in November, has reportedly gained the upper hand in the battle.

Several sources revealed that Trump leads in five out of six crucial swing states such as Pennsylvania, Arizona, Michigan, Georgia, and Nevada. As of now, Biden has more support only in Wisconsin.

Swing states are highly important in each presidential election in the USA as they dont represent a stronghold of the Republicans or the Democrats and can be won by any of those parties.

Another interesting development surrounding Donald Trump is the hush-money trial involving him and the pornographic film actress Stormy Daniels. She previously claimed to have had sex with the former president prior to his 2016 election and accepted $130,000 from his former lawyer Michael Cohen in exchange for her silence.

Trump denied the allegations, while recently, his defense pressed the attorney on his criminal history and past lies. Cohen admitted to lying under oath when he pleaded guilty to federal charges, including tax fraud.

Trumps Pro-Crypto Move

While serving as Americas 45th President, Trump was not fond of the cryptocurrency industry, claiming bitcoin  and the rest of the digital assets are based on thin air. His bashing manifest continued in the next few years, calling BTC a scam. Nonetheless, he started softening his tone earlier in 2024, saying he can live with the primary cryptocurrency.

You probably have to do some regulation, as you know. But many people are embracing it, and more and more, Im seeing people wanting to pay bitcoin, and youre seeing something thats interesting. So, I can live with it one way or the other.

Earlier this month, Trump described himself as the right choice for those in favor of the digital asset industry, adding that his opponent, Joe Biden, and his cabinet are against the asset class: 

Im fine with it. I want to make sure its good and solid and everything else. But Im good with it. And if you like crypto in any form (and it comes in many different forms), if you are in favor of crypto, you better vote for Trump.

His comments were followed by the price resurgence of another meme coin related to him MAGA (TRUMP). The token continued its uptrend in the past week, hitting an all-time high of over $10 on May 16.

TRUMP Price, Source: CoinGecko