Former Donald Trump campaign adviser Roger Stone’s endorsement of the TRUMP meme coin on X has led to a 17% surge in value, despite a general downturn in the cryptocurrency market. Stone claimed the coin was the largest holding in Trump’s crypto wallet, sparking increased interest.
Stone endorsed TRUMP on X, emphasizing his partnership with MAGA Memecoin, the group behind the token. Stone’s tweet announcing the partnership contributed to the surge in TRUMP’s value.
TRUMP’s rise contrasts with the 2.3% overall drop in the crypto market. The meme coin, now 17% up against the dollar, received a boost from Stone’s endorsement, gaining traction among investors. Meanwhile, the BODEN meme coin, named after Joe Biden, saw a 10% increase following TRUMP’s surge.
Trump holds $2.9 million worth of TRUMP tokens, received through an airdrop of 579,290 tokens to his address. Although Trump has not sold any TRUMP tokens, he has utilized Ethereum in his NFT sales. The endorsement by Stone adds weight to TRUMP’s position in the crypto market.
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