Doland Tremp (TREMP), a Solana-based memecoin inspired by the American politician Donald Trump, has attained a market capitalization of $100 million. Following the announcement on X, Solana’s founder, Anatoly Yakovenko, commented with a saluting face emoji. These activities took the token to an all-time high of $1.13 earlier today.
— toly 🇺🇸| bip-420 (@aeyakovenko) May 17, 2024
What is TREMP Memecoin?
Founded earlier this year, TREMP emerged as a Donald Trump parody. It capitalizes on the politician’s support for cryptocurrencies to capture investors’ attention.
Trump, who served as the United States’ 45th president, is currently campaigning for the presidency through the Republican Party. He will go against the current U.S. president, Joe Biden, who belongs to the Democratic Party, on November 5th, 2024.
As part of his campaigns, Trump has echoed his support for bolstering crypto adoption in the country if elected as president. The 77-year-old politician is known for his NFT collections that stormed the market months back. When asked about the U.S. hostility towards the crypto market in a recent meeting with a group of NFT enthusiasts, Trump stated that crypto must be in the U.S. for adoption to occur. These concerns spring from the continued crypto crackdown experienced in the country.
“Crypto is moving out of the U.S. because of hostility toward crypto. [. . .] If we’re going to embrace it, we have to let it be here,” he said.
The TREMP memecoin project’s team believes that Trump will bring billions of dollars into the crypto market if elected president. Still, the project’s website states that it has no “association with Donald Trump.”
TREMP Trades at $0.96
Shortly after Yakovenko’s tweet, TREMP’s value jumped to a peak of $1.13 for the first time. A market correction has since occurred, bringing the token’s value to $0.96. Still, the current price represents a 13% increase over the past 24 hours and a 41% jump within the past week.
Source: CoinMarketCap
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