MAGA crypto surged 20% over the weekend as presidential candidate Donald Trump dived back into the NFT scene with his new series, “America First” – not long after being endorsed by Elon Musk!
This time, the 45th president is a sneakerhead, a biker, and, of course, a buff in all of these pictures.
JUST IN: Donald Trump releases new Trump Trading Card NFTs on #Bitcoin pic.twitter.com/PSGLJD9Vxd
— Altcoin Daily (@AltcoinDailyio) August 27, 2024
This latest batch from Trump features 50 NFT “baseball cards” priced at $99 each, showcasing titles like “Super Trump” and “Sneakerhead Trump.”
You would be correct if it feels like we’re in a Simpsons episode. We’re never getting out.
“These cards show me dancing and even holding some Bitcoins,” Trump declared in an infomercial-style ad.
Despite claiming that the NFTs “are not political and have nothing to do with any political campaign,” Trump’s venture is expected to be financially lucrative, potentially adding to the six-figure income he reported from previous NFT sales in 2022.
MAGA crypto also rode off an additional announcement that Trump may appoint X owner and Tesla CEO to his cabinet to audit US agencies.
Elon Musk and NFT Impact on MAGA Crypto
Trump’s NFT launch coincides with the rise of PolitiFi tokens like MAGA crypto, PEOPLE, and TRUMP.
Recent patterns show MAGA forming a falling wedge pattern, potentially indicating bullish momentum if certain technical thresholds are surpassed.
PolitiFi tokens have been on a rollercoaster of market signals. MAGA’s competitor, TRUMP, has been on a nosedive, bleeding value.
Not to be left out, the PEOPLE token faces its trials and is eyeing a revival if it can overcome its market obstacles.
The Interplay Between Politics and Cryptocurrency
Politically themed tokens are the new frontier in crypto, embedding political stories into investments.
It’s unclear if the rumor about Elon joining Trump’s cabinet if he wins in November is true. Yet if Trump wins, MAGA will most likely become a top 100 token, from #284 where it’s at now.
EXPLORE: Crypto Industry Accounts For Nearly Half Of Corporate Election Spending
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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