Leave it up to crypto developers to come up with a meme for everything. One of today’s top trending cryptos on CoinMarketCap is the so-called Super Trump (STRUMP-USD) crypto. Under the ticker STRUMP, this token has rocketed more than 160% higher at the time of wiring. Thus, it’s clear there’s plenty of demand for new meme tokens in an ever-evolving market.
For developers looking to create something that will catch on with the masses, finding a theme or a brand is essential. The Trump brand is powerful, and is certainly inviting plenty of speculative interest in the early days of trading for the STRUMP token.
It appears this meme coin has only been live for a few days, but since its launch, it has been mainly seeing upside. Let’s dive into what this token is all about and why there’s so much buzz building around this project.
Super Trump Crypto
We don’t need to go very far to see the purpose of this new meme coin. On the Super Trump website, the project’s purpose is listed as:
“As a meme-driven coin, we’re rallying all Trump supporters to fuel our mission of taking over the White House! With the elections nearing, the Trump hype is reaching new heights. Backed by his exclusive NFT collection, it’s crystal clear – Trump needs to be the first crypto-friendly U.S. president! Our unique crypto token is more than just an investment – it’s a symbol of support for Trump’s political movement. Join us and explore a fresh way to be part of the digital economy while expressing your political beliefs!”
Maybe super PACs are out, and crypto is in? In any event, the Trump campaign will need to raise some capital, given the ongoing costly legal battles the former president is facing on a number of fronts. Of course, it’s unclear how directly Donald Trump will benefit from this project (though the fact that his name is used certainly could indicate some involvement, given that the former president has an affinity for licensing his name). But if there’s a way Trump can raise some money heading into what will undoubtedly be a costly year, I’m sure he will.
STRUMP Pump and Dump?
This is a token that’s outside of most investors’ circle of competency and probably shouldn’t be viewed as an investment in the traditional sense. While Trump supporters may flock to this token, and it may move in correlation with Trump’s political momentum, there doesn’t appear to be anything under the hood providing real utility. Accordingly, I’ll watch the fireworks from the sidelines for now.
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Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
