The price of Super Trump (STRUMP), a meme coin inspired by Donald Trump, has seen a massive 240% increase in just one day, amidst a frenzy of crypto enthusiasts. STRUMP was trading alongside other popular meme coins such as Notcoin and cat in a dog's world (MEW) and reached a high of $0.02298.

The surge in price comes amid news about Trump's crypto wallet and his increasingly crypto-friendly campaign. Super Trump has seen a 330% increase in price over the past two weeks and is currently trading at $0.01845. According to data from CoinMarketCap, the meme token's market cap has jumped 266% in the past 24 hours to $34 million.

Super Trump is not affiliated with Trump but pays homage to the 45th US President's legacy and supports his bid for a second term. The meme coin's governance allows for a distribution of transaction fees to a Donald Trump wallet. Recently, on-chain details showed that a crypto wallet linked to the former president held crypto assets worth over $10 million.

The assets included MAGA tokens and Ethereum, with blockchain analytics firm Arkham sharing data that indicated $7.1 million in the MAGA (TRUMP) token and roughly $1.8 million in ETH. STRUMP also rocketed as the meme coin launched on Solana, with the latest gains putting it among the biggest meme coins on the network.

Meme coins such as MAGA (TRUMP) and Jeo Boden (BODEN) have witnessed parabolic price gains in recent months. The trend has strengthened as crypto holders become increasingly vocal about their preferred candidate for US president in upcoming elections. Super Trump, like other meme tokens inspired by Donald Trump, is getting the most attention as the Republican Party candidate signals a more crypto-friendly stance.

In recent campaign remarks, Trump pledged to make the US a global leader in crypto and blockchain innovation. Meanwhile, he heavily criticized Joe Biden's regulatory approach as one targeted at causing a “slow and painful death” for crypto. Donald Trump has also promised to support US crypto holders' right to self-custody their Bitcoin and other assets. If elected, he will also never allow the creation of a central bank digital currency (CBDC) in the country.Trump's increased support also includes a pledge to release jailed Silk Road founder Ross Ulbricht. Amid Trump's more open outlook for crypto if he's elected, industry observers are saying November's election could be the first where crypto becomes a huge deciding factor.