Is Trump Launching a Meme Coin? Mysterious New Token ‘DJT’ Sends Crypto World Into Frenzy
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The US Presidential Election is continuing to shake up the PoliFi meme coin sector, and in the latest pump, a new token called DJT—supposedly backed by Donald Trump himself—has become one of the most controversial gainers in recent times.
This article will provide an analysis of DJI’s current price trends and look to see whether a viral GameFi token, PlayDoge, represents a more promising investment opportunity at this time.
With the DJT token exploding dramatically last night amid wholesale rumors that Donald Trump is behind the project, major figures in the retail investor space, including Martin Shkreli, have been quick to take a position on the new PoliFi meme coin.
100 million
if you don't have 100 million, as much as you're willing to bet
— GCR (@GiganticRebirth) June 18, 2024
The controversial investor has moved to back the project, and consequently has fallen under hot criticism from big names in Crypto Twitter – with the likes of Alex Wice and GCR offering Shkreli huge bets over the genuineness of the project.
As it stands, it appears Shkreli may have risen to the challenge, putting his money where his mouth is as he claims the token is genuinely Donald Trump-backed.
DJT Price Analysis: How’s Things Shaping Up For Rumored Donald Trump Backed PoliFi Meme Coin?
Still standing strong as the #1 Hot Coin on DEXTools, DJT crypto is currently trading at a market price of $0.0121 (representing a 24-hour change of -57%).
This comes as the price undertakes a major correction after firing up a dramatic +650% Yesterday, in a dramatic resurgence from rock-bottom price action – that saw an all-time high established at $0.039.
Now, plummeting down to a more fair pricing, volatility remains high, as 10.5k DJT token holders sit tight in an attempt to consolidate above $0.01 support.
If this level remains successfully defended, then price action could see an upside move targeting a reclamation of key upper support at $0.02.
Yet, the chart seems dicey here, with a clear sell-off cascade leaving DJT at its lowest support level.
This induces some risks as buy-pressure has declined to just 46% of transactions in the order book over the last 6-hours; reflecting a shift to distribution and panic in the ranks.
Indeed, much of the future potential of the DJT token lies in whether it’s proven to be a Donald Trump-linked coin (a likely catalyst for a second rally to a new all-time high).
However, as ever in the meme coin world – this needs to happen quickly to avoid a complete sell-off, and this leaves all eyes on Shkreli’s bets as the likely deciding factor for the future of DJT price structure.
But while DJT seems poised for a decisive sink-or-swim outcome, one viral GameFi project shows no sign of slowing down.
The PlayDoge Presale Is Surging To Viral Success: With No Sign of Slowing Down – Discover PLAY Token
Retail investors are scrambling to find safe harbors for their money amid wholesale crypto price drops, and presales have emerged as a favored offer method for shielding your capital from Q2 volatility.
After all, this is crypto, and one truth always holds – the beauty lies in getting in early. Imagine if you had bought Dogecoin at a $5M market cap—today, you would be sitting atop 3,900x gains.
PlayDoge (PLAY) could very well emerge as the next big opportunity to mirror these gains as it hits viral momentum in crypto markets.
But what has got retail investors so excited? At the heart of PlayDoge’s offering is a high-octane mobile GameFi project, built in a nostalgic homage to the original 90s sensation Tamagotchis.
In this play-2-earn ecosystem, users can use PLAY tokens to buy, care for, and level up their very own 2D Doge-themed Tamagotchi pet – talk about bringing the retro to Web3!
The idea is clearly a hit, with more than $4,799,866 raised at an alluring pre-listing price of $0.0051.
So don’t miss out on this early opportunity.
Follow PlayDoge on X and Telegram for the latest updates.
