Donald Trump provoked a MAGA meme-cycle pump

Note: not investment advice!

Former US President Donald Trump continues to speak out about cryptocurrencies, which provokes unprecedented growth in thematic tokens. Thus, over the past 24 hours, the price of the MAGA (TRUMP) meme coin has jumped by 162%.

The significant growth of MAGA was capitalized on by an anonymous trader who managed to make $ 2.7 million in just three days of trading the token. His return on investment (ROI) was 505%, according to Lookonchain analysts.

on May 25, the owner of the virtual coins bought a total of 6 billion MAGA, paying $ 537,500 for them. Later, he sold 1.5 billion coins for 744,000 Tether (USDT) to make a profit. Now, the trader has 4.5 billion MAGA on his balance sheet, which is worth $ 2.51 million.

Meanwhile, MAGA recorded an increase of 534,000% over the past day.

A series of statements by Donald Trump regarding the crypto industry contributed to the significant growth of MAGA. In particular, the candidate said that he would make the United States the world leader in digital assets.

«I will make sure that the future of cryptocurrencies and bitcoin is shaped in the United States. I will support the right to self-storage for 50 million cryptocurrency holders in the country,» he said.

Trump also added that he would never allow the creation of a central bank digital currency (CBDC). The politician promised to stop Joe Biden’s «crusade to crush the crypto industry» and keep Senator Elizabeth Warren as far away from the crypto market as possible. It is worth noting that Warren is an ardent opponent of cryptocurrencies.

In addition, the billionaire said that he would pardon the creator of the Silk Road darknet marketplace, Ross Ulbricht. Trump emphasized that he would reduce the sentence of the convict on his first day in office.

Earlier, the politician’s election campaign launched a cryptocurrency donation drive. Donations are collected through the Coinbase Commerce platform. Trump accepts several assets at once, including bitcoin BTC $56,555.25 Bitcoin -2.97% Market capitalization $1.12 trillion VOL. 24 hours $4.65 billion , Ethereum ETH $2,984.03 Ethereum -5.05% Market capitalization $358.67 billion VOL. 24 hours $2.68 billion , and Solana SOL $134.69 Solana -0.12% Market capitalization $62.34 billion VOL. 24 hours $1.04 billion .