TL;DR
- Donald Trump cryptocurrency wallet has reached a value of $30 million after receiving an avalanche of meme coins and donations from his followers following his conviction last week.
- The team behind Trog (Trump Frog) conducted an airdrop of half of its total supply directly to Donald’s wallet, which significantly contributed to the increase in the value of his assets.
- The candidate still holds a considerable amount of Ethereum and the MAGA (TRUMP) memecoin, which has experienced considerable price fluctuations after the news of the conviction.
Since last week’s conviction, Donald Trump cryptocurrency wallet has experienced phenomenal growth, reaching a value of $30 million. This increase is due to his supporters sending meme coins and donations to his address.
The team behind Trog (Trump Frog), a meme coin created with the aim of “making cryptocurrencies great again,” conducted an airdrop of half of its total supply directly to Trump’s wallet. This singular action greatly contributed to the increase in the value of his assets. In the last 24 hours, the price of Trog has increased by 190%, according to DexTools.
Now over $30M https://t.co/I6fptmhV3E pic.twitter.com/UtRZiFaeWF
— Arkham (@ArkhamIntel) June 5, 2024
Breaking Down Trump Wallet Composition
However, the exponential increase is not exclusively attributable to Trog. Although Trump sold Ethereum for approximately $2.4 million last December, he still holds 471 ETH valued at approximately $1.8 million at the current price. Additionally, his wallet contains $7.8 million in the MAGA (TRUMP) memecoin based on Ethereum. The latter has experienced significant price fluctuations after the conviction of the politician and businessman, reaching a record high of $17.51 before stabilizing at $12.84 at the time of writing this article.
The price drop reflects a change in sentiment among investors and traders. Many of the bearish movements seem to be linked to ongoing legal events, including Trump’s pending sentencing and multiple accusations against him.
Despite his conviction, the popularity of assets related to Trump remains notable, demonstrating a continued and growing interest in using political culture as a basis for cryptocurrencies. This phenomenon highlights the volatility and influence that real-world events can have on the crypto market.
