Meme coins inspired by current U.S. President Joe Biden and ex-President Donald Trump have seen significant increases in value in the past 24 hours following Trump’s comments on cryptocurrency during an NFT holders dinner.

According to CoinMarketCap data, the Trump-themed meme coin, MAGA (TRUMP), surged by over 44%. Similarly, Jeo Boden (BODEN), a coin with a misspelled reference to President Joe Biden, saw an increase of more than 22%.

In the meme coin market capitalization category on CoinMarketCap, the top three gainers in the past 24 hours were identified as Donald Tremp with a surge of 122%, MAGA with a 44% increase, and Jeo Boden with a rise of 22%. In contrast, Bitcoin (BTC) was trading around $60,800, showing a 2.4% decrease, while Ethereum (ETH) dropped by over 1.4% to approximately $2,950 during the same period.

The surge in presidential-themed meme coins follows Trump’s announcement that he plans to accept cryptocurrency for campaign donations. In video clips shared by anonymous DeGods NFT holder Malcolm, the former President expressed his support for crypto donations, stating, “If you can’t, I’ll make sure you can. Can we donate to the Trump campaign using crypto? I believe the answer is yes.”

This announcement has fueled the increase in Trump-inspired meme coins, highlighting the growing connection between cryptocurrency and political fundraising. Trump has been involved in various crypto-related activities, such as offering NFT cards on multiple chains, criticizing CBDCs, and holding close to $3 million in crypto assets.

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