EXCLUSIVE: Trump-Themed MAGA Memecoin Plans To Rival Dogecoin And Shiba Inu With ‘4 Extra Years Of Catalysts’


“I am unable to consider anybody else who’s a larger supply of meta than Donald Trump.”

Steven Steele, chief advertising and marketing officer of MAGA Memecoin TRUMP/USD, the Trump-themed cryptocurrency that has been making waves for being the previous president’s greatest portfolio holding, thinks it’s “more and more probably” the forty fifth president turns into the forty seventh president of the US.

In that case, we could possibly be supplied with “4 extra years of hilarity and catalysts,” Steele informed Benzinga in an interview.

Polls have the previous and the present presidents neck-and-neck, as have prediction markets, which gave Trump a two-point edge over Joe Biden, as of Might 4.

Whether or not he secures a profitable re-election bid or not, curiosity in Donald Trump will probably intensify between now and Nov. 5.

And with it, the attraction of investing in TRUMP, Steele mentioned. He informed Benzinga he can’t consider any individual that might be coated greater than Trump going into the election season “and possibly past.”

How MAGA Memecoin Turned ‘The Most Coated Individual’ Into A Cryptocurrency

Andrew Kang, a crypto enterprise capitalist, sees Trump as “among the finest consideration monopolizers on the earth.”

His fund Mechanism Capital introduced on Feb. 6 that it had accrued TRUMP — the primary meme coin than can “rival Dogecoin DOGE/USD and Shiba Inu SHIB/USD.”

Certainly, amongst meme cash, MAGA Memecoin is considerably of a pioneer. It was the primary to efficiently introduce a meme coin primarily based on a real-world individual or cultural phenomenon. Speculating on the eye created by sure occasions, equivalent to the demise of former Secretary of State Henry Kissinger, has since change into a staple of the meme coin circus.

Steele, who initially was simply an investor in TRUMP, mentioned the “monumental potential” made him be part of as chief advertising and marketing officer. Following its inception in August 2023, TRUMP grew to a preliminary peak of $448 million in market capitalization on March 5 and is presently buying and selling round a valuation of $220 million.

Steele attributes this rise in worth to a number of key factors:

Constant advertising and marketing: MAGA Memecoin holds weekly areas for its neighborhood and publishes Trump-themed memes on its X account.

Philanthropic motion: The challenge has donated over $1 million in Ethereum ETH/USD for 37 straight weeks to help for homeless veterans and the prevention of kid trafficking. Steele identified this was one in every of key factors that drew him in, with the Nationwide Veterans Homeless Assist with the ability to scale its operation because of the donations.

Partnerships: MAGA Memecoin not too long ago introduced it had onboarded controversial political determine and self-proclaimed “agent provocateur” Roger Stone as a companion.

However the inevitable consequence of success is competitors, a rule that applies even — or significantly — to meme cash.

Learn Additionally: Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Knowledge: ‘Above $67,000 We Fly Like A Chook,’ Claims Dealer

‘To Get Unprecedented Outcomes, You Have To Do Unprecedented Issues’

In a March interview with Coindesk, Steele mentioned he desires TRUMP “up there with a DOGE or SHIB, that sort of scale and market cap and recognition.”

Requested find out how to make {that a} actuality, Steele informed Benzinga, “To get unprecedented outcomes, it’s a must to do unprecedented issues.”

Signing Stone is one instance of that, Steele identified, because it introduced MAGA Memecoin a whole lot of “normie” buyers that purchased TRUMP as their first cryptocurrency.

However since Steele’s March interview, the political meme coin panorama has modified. TRUMP isn’t the one politicial meme coin anymore.

In truth, it presently isn’t even the largest one. BODEN BODEN/USD a meme coin parodying Biden with deliberately poor spelling and cartoons, has recorded an astronomic surge to over $700 million in market capitalization and is presently buying and selling at a valuation of round $290 million. The emergence of a quasi-rival has even sparked a prediction market about which meme coin would get to $1 billion first (BODEN is main TRUMP 54% to 46%).

Steele informed Benzinga he’s conscious of the coin — and others which have boarded the “PoliFi” meta — however isn’t apprehensive by or all in favour of them.

Certainly, a de facto rivalry between the 2 meme cash, just like that between Dogecoin and Shiba Inu, could possibly be optimistic and create extra curiosity and loyalty amongst holders.

However what does the person whose face is on the memes powering MAGA Memecoin consider all of this?

Learn Additionally: Dogecoin Is ‘Primed For Greater’ However Pepe Is ‘On A Moon Mission,’ Exclaims Dealer

‘Extra Than Sufficient Causes To Imagine’ Trump Is aware of Of TRUMP

Donald Trump’s stance on Bitcoin BTC/USD and crypto has shifted from contemplating them a “catastrophe ready to occur” and being “not a giant fan” in 2021 to now expressing enjoyment with crypto and the “loopy new currencies” aside from Bitcoin.

Steele thinks there are “greater than sufficient causes to consider” the previous president is conscious of the meme coin his persona began, particularly contemplating Stone was a marketing consultant for Trump’s 2016 marketing campaign.
He urged that Trump might have been referring to MAGA Memecoin in his point out of “loopy new currencies.”

Steele additionally shared that Trump is conscious and a fan of Shawn Farash, the host of the challenge’s weekly areas and a proficient Trump impersonator.

Trump’s allocation of TRUMP was an intentional “strategically savvy and hilarious” transfer by the challenge to advertise the coin. And, simply as deliberate, it has since change into Trump’s greatest holding.

However what if Trump sells “his bag” of MAGA Memecoin? If the meme coin had been to understand going into the election season, Trump’s present holdings of $2.73 million might immediate him to consider cashing out.

Steele acknowledged the chance however doesn’t see it as an issue. Just like the 2021 incident when Ethereum co-founder Vitalik Buterin offered and donated his allocation of SHIB, Steele thinks it might also have a optimistic impression on MAGA Memecoin.

Whether or not TRUMP can actually change into, as Andrew Kang mentioned, the primary meme coin to interrupt the reign of dog-themed incumbents stays to be seen. Meme cash like Pepe PEPE/USD and dogwifhat WIF/USD — yet one more canine coin — maintain a considerable lead over political meme cash.

However when contemplating the mix of the “memecoin supercycle” with the “weirdest marketing campaign” the incumbent president has ever been in, who is aware of what might occur between now and November?

Learn Subsequent: Trump Says London, Paris No Longer Recognizable: ‘We Can’t Let That Occur Right here’

Picture created utilizing synthetic intelligence with Midjourney

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