The last memecoin, in order of time, to have gained the attention of cryptocurrency enthusiast investors is called MAGA and, of course, is inspired by former US president and upcoming presidential candidate, Donald Trump. The reason for this choice is quite simple, according to Steven Steele, chief marketing officer for MAGA. In his view:
"I can think of no other personality capable of stimulating more meta than Donald Trump."
Effectively, the American billionaire is something of a magnet and, love him or hate him, it is undeniable that he attracts a lot of media and financial attention.
Trump and his MAGA Motto, Two Catalysts for Cryptocurrency
The acronym MAGA, as it is known, stands for Make America Great Again, and is the best known motto of the former US president who, according to the predictions (and perhaps the wishes) of the memecoin renamed with the same four letters, will also be the future tenant of the White House in Washington. In fact, the polls put Trump and the Democratic candidate, the outgoing Joe Biden, shoulder to shoulder, but the conservative candidate has a slight advantage.
Depending on how the November elections go, however, Steele and his people anticipate several months of buzz, as they say in English, relative to Trump and their cryptocurrency will only gain. If The Donald were to truly triumph, then MAGA could have a very important sponsor inside the world's most relevant room of buttons. The memecoin is in a seemingly win-win condition, because Trump will certainly be talked about, even in the event that he emerges defeated.
How MAGA Transformed the Media's Most Requested Personality into a Memecoin
The more the media and ordinary people talk about the Republican candidate, the more interest in MAGA - whose acronym in the indices, not surprisingly, is TRUMP - will increase. Consequently, the appeal of investing in this token, which aims to glow with the tycoon's popularity, will also increase. According to Steele, there will hardly be a more talked-about person between now and the 5 November elections - and perhaps even afterwards - than the New York real estate developer.
According to some investment funds particularly active in cryptocurrencies, such as Mechanism Capital, MAGA has the potential to rival DOGE and Shiba Inu, the two currently strongest memecoins. Andrew Kang, venture capitalist for Mechanism, considers Trump the main monopoliser of global attention. The fund of which Kang is a member had already informed its members at the beginning of February about the accumulation of massive amounts of MAGA.
The Pioneering Experience of MAGA
The Trump-based memecoin is the first to be openly inspired by a real, living person. It is unlikely to be the last, as the cryptocurrency industry and the meme subset are very much aware of world, and especially US, current affairs, so this choice is likely to be repeated but, at the moment, MAGA is a pioneer token.
The valuation of TRUMP is currently around $220 million but is being given an upward valuation. This is due, in good measure, to the marketing efforts of Steele and his colleagues. Indeed, the staff constantly posts funny memes about Trump on his X profile, has partnered with Roger Stone, a criticised and debated investor, but very popular in the States, and does charity work to improve the reputation of memecoin. MAGA has donated more than a million dollars in Ethereum to the association that looks after the interests of homeless US military veterans.
TRUMP vs. BIDEN
MAGA's stated goal, as even Steele candidly admits, is to become as popular as DOGE and SHIB and gain a market value similar to theirs. The road seems to be set in the right direction since, especially after Stone's onboarding, numerous investors have embraced TRUMP, even buying it as their first crypto.
In addition to its potential success, however, MAGA also has to look over its shoulder, because a second politically motivated memecoin has immediately sprung up, which seems to want to transfer the rivalry between Donald Trump and Joe Biden to the sector. This token, in fact, has been renamed BIDEN and traces the figure of the current president, although it uses misspellings as a business practice and uses childish as well as really silly content to advertise itself.
At the time of writing, BIDEN is valued more than TRUMP. In fact, he is estimated to be worth as much as $290 million. However, this may simply be a snapshot of the moment; after all, it is a younger, later-born currency.
We at SpazioCrypto are rather curious to see which one will prevail in the end, and we are smiling at this parallel competition between Trump and Biden, as much in Americans' voting intentions as in traders' investment intentions.
