After former U.S. President Donald Trump endorsed cryptocurrencies and criticized President Joe Biden's understanding of them, the value of two meme coins connected to these leaders—TRUMP and BODEN—has risen sharply.

TRUMP Coin Leaps 35%, BODEN Up 16% Following Trump's Crypto Backing

During a gathering with his NFT enthusiasts, Trump spoke strongly in favor of cryptocurrency. He said Biden doesn't grasp crypto and suggested that crypto supporters should back Trump. Since then, the meme coins linked to these politicians have surged against the U.S. dollar.

The crypto token called maga (TRUMP) has surged by 35.6% in the past 24 hours, now trading at $5.75 per coin. Trump has received a donation of 579,290 TRUMP tokens, valued at $3.33 million. He still holds all of his TRUMP tokens.

After the launch of maga (TRUMP), the geo (BODEN) token, introduced last March, has risen by 16.6% in the past day. Trump expressed disapproval of the BODEN coin when asked about it at the NFT Gala. As of 10:00 a.m. Eastern Time on May 9, 2024, BODEN is priced at $0.357 per coin.

In summary, the endorsement of cryptocurrency by Trump and his critique of Biden's understanding of it have led to significant increases in the value of TRUMP and BODEN coins.