Trump-Linked Digital Wallet Surges with Memecoin Gains and Donations

RecentdatafromArkhamIntelligencerevealsthatthewallet'srecoveryalignswithasignificantspikeinthememecoinsector.

A state-of-the-art digital wallet linked to Republican presidential candidate Donald Trump has seen a meteoric rise in value overnight, surging from $9 million to soaring over $11.9 million in a matter of days. The Trump-linked wallet, which has been a hot topic of discussion due to its association with the former president, witnessed a phenomenal increase in value, largely attributed to the skyrocketing memecoin market. According to data from Arkham Intelligence, the wallet experienced a rebound in line with the spiking memecoin sector. Donors continue to contribute to the Trump-linked wallet with Ether and other memecoins in sizeable batches, increasing the overall inflows. Notably, several donations were made from a wallet named “Save America.” Memecoins, particularly Dogecoin (DOGE) and Shiba Inu (SHIB), witnessed significant gains. DOGE climbed by a whopping 6.6%, SHIB increased by a notable 4.5%, and FLOKI surged by over 7%, as per CoinGeckodata. Several memecoins had a spectacular performance on Tuesday night. PEPE skyrocketed by 16.0%, WIF by 16.3%, and BRETT by 16.7%, showing a remarkable increase of over 25% in the past week. Most other top memecoins in the market were also in the green, contributing to the overall positive trend. In addition to traditional memecoins, PolitiFitokens, which are memecoins based on political figures or movements, also experienced a notable surge. The TrumpMania (TMANIA) coin led the pack with a staggering 54.2% increase. Following closely were MAGAHat (MAGA) with a 48.2% rise and Doland Tremp (TREMP), which climbed by an impressive 33.5%. Other PolitiFitokens, including JeoBoden (BODEN), also saw gains, with BODEN spiking by a substantial 11.5%. The memecoin and PolitiFitokens surge occurred as Bitcoin recovered significantly from dipping below the $60,000 mark, later rebounding strongly above $62,000. This recovery came after a market slump caused by fears and massive liquidations by major holders. A report suggesting that Trump may potentially be a keynote speaker at Bitcoin2024, an event organized by Bitcoin Magazine, has also contributed to the memecoin buzz. While Trump's possible appearance is yet to be confirmed, the prospect has generated much excitement in the cryptospace. A potential stage-sharing with BTC advocate and presidential contendor Robert F. Kennedy Jr. is highly anticipated.

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