The price of Donald Trump’s cryptocurrency tokens has increased significantly

A cryptocurrency trader was able to make a significant profit by investing in Donald Trump-related meme coins after Elon Musk’s speech in support of the Republican candidate. According to Spot On Chain data, the trader purchased 18,364 Maga Coin (TRUMP) and 2.449 billion Maga Hat (MAGA), spending $ 360,000. After Musk’s speech, the value of the assets rose sharply.

This investment move led to a total gain of over $ 124,472, or 34.57%. The rise in the value of political tokens reflects a new trend in the cryptocurrency market, where politics plays a key role.

Musk’s speech at a rally in Pennsylvania spurred traders to action as he called for a vote for Trump to «save democracy.» Musk warned that the victory of the Democratic candidate could be the last election in the United States.

Musk is now actively using his platform X (formerly Twitter) to support Trump’s policies. This emphasizes his evolution from a Biden voter to an open supporter of the Republican Party.