As we get close to the US election, there's a sudden rise in the Doland Tremp (TREMP) meme coin which saw a 17% hike last week. This has raised speculation if TREMP can keep the momentum going.
Amidst this, FreeDum Fighters (DUM), the unique collection of 1776 NFTs has entered the PolitiFi space.
The surge in Doland Tremp price is a result of the renewed interest of retail investors in the digital asset over the week. However, how far the meme coins sustain the momentum depends on new entries like FreeDum Fighters (DUM) which is about to take the PolitiFi space by storm ahead of the US election.
The Solana-based token TREMP is a combination of former US President Donald Trump's name and his infamous “covfefe” tweet. This meme coin was designed to draw investors through irreverent humour.
As of October 22, the Doland Tremp meme coin has gained 17% as it is trading around the $0.316 level. TREMP was surging more over the weekend, with a spike of over 33%. This came at a time when forecasts of Trump winning the US elections surcharged the crypto market on Monday morning.
Although the meme coin has pulled back as the week progressed, TREMP is still the 4th largest PolitiFi coin based on its market capitalisation on Tuesday. Its trading activity is a testimonial to its popularity in the crypto market.
In the last 24 hours, Doland Tremp has crossed $7.5 million in spot volume. This is higher than the combined spot volume of top altcoins like Cronos (CRO).
Many crypto analysts have revealed that this spike in TREMP is because of its appeal as a “degen coin” with no use case. The meme coin is likely to continue its bullish sentiments as it is linked to the Trump campaign in the US election.
Similar to all Trump-themed tokens, it will be boosted by positive news about his campaign and show dips when negative headlines surface. As the US presidential election is only 2 weeks away there is likely to be more TREMP price swing as the trading activity increases.
At present, the meme coin is trending upwards as it bears the $0.398 resistance level. Doland Tremp is forming a tight wedge pattern which can cause it really to the July high level of $0.580, 84% increase from the current stage if a breakout above the pattern happens. However, in case the Kamala Harris campaign gets a boost, TREMP could dip to the bottom of the wedge pattern.
Overall, the next two weeks will be promising for investors trading on this meme coin as Doland Tremp goes on a wild ride. Crypto investors looking for a neutral approach to the US election should bank on FreeDum Fighters which has two satirical characters – MAGATRON and Kamacop 9000. This coin's appeal lies in attracting people from both sides of the US election.
While TREMP has no real-world application and only relies on hype, DUM boasts of a staking system which is useful. Crypto users can stake their DUM tokens in favour of Kamacop 9000 or MAGATRON. But the vitality of this meme coin lies in the fact that you can earn rewards for one side while you stake for the other character which provides passive income opportunities to traders.
Although DUM has 10X potential it's still in the presale stage and hence unavailable on the open market. This token has the capacity to generate $0.00005 during the presale which crypto analysts say is a chance to invest at a discount. Eventually, if FreeDum Fighters lives up to the hype, it can equal Doland Tremp or even go over it once it is available on the crypto exchange.
As of October 23, 2;20 UTC, TREMP is trading at $0.29 with an 8.60% decrease in its price with a market capitalization and trading volume of $29.07 million and respectively $7.05 million respectively.