The fervor surrounding presidential meme coins continues unabated, with the MAGA/TRUMP token soaring to an all-time high of $15.4 on May 29, capturing the attention of both crypto enthusiasts and political observers alike.

TRUMP has experienced a remarkable rally, boasting a 48% surge over the past week and an impressive 180% increase over the month, according to data from CoinMarketCap. However, as of the latest update, the memecoin has retraced to $13.66, marking a 10.6% decline from its peak. The token's market capitalization has also dipped to $600 million.

The recent surge in the MAGA token's value coincides with several significant developments in the crypto sphere. Notably, American media personality Caitlyn Jenner publicly endorsed the MAGA token on the social media platform X, adding to its momentum.

Moreover, reports have surfaced regarding substantial whale-buying activity in recent months. Spot On Chain revealed that a trader had acquired over $1 million worth of TRUMP tokens shortly after Trump announced his re-election campaign last November. With the token reaching its all-time high on May 29, the value of these tokens surged to over $15.7 million.

Speculation abounds regarding the potential sale of these holdings by the whale following the recent price surge. Conversely, some whales have begun offloading their TRUMP holdings to capitalize on profits and explore investments in other memecoins associated with the former president.

Meanwhile, the surge in TRUMP has significantly bolstered the holdings of Donald Trump, the former president and prominent Republican presidential candidate, to $7.89 million as of Thursday.

However, MAGA (TRUMP) is not the sole meme coin capitalizing on the former president's name and brand. The Super Trump (STRUMP) token witnessed a 53% increase in value over the past day, reaching $0.01545 per coin. Although it hit an all-time high of $0.02241 on May 29, the token has since retreated by over 31%. Additionally, another token, TRUMP'S HAT (MAGA), achieved its all-time high just three days ago.

At the 2024 Libertarian National Convention on May 25, Trump addressed various crypto-related topics, expressing support for self-custody rights, advocating against central bank digital currencies, and endorsing the release of incarcerated Silk Road founder Ross Ulbricht.

Despite his prior criticisms of Bitcoin and other cryptocurrencies, Trump conveyed a newfound "positive and open-minded" stance toward the industry, signaling its increasing significance in political discourse.