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In recent days, Trump Coin has seen a major rise in value, and there are a few key reasons behind this unexpected surge. One of the biggest factors was a public comment by Federal Reserve Chairman Jerome Powell. In a recent interview, Powell compared Bitcoin to gold, calling it a digital version of the precious metal. This statement gave a strong push to the crypto market, as many investors saw it as a positive signal for Bitcoin and other digital assets.
Another important reason was Donald Trump’s support for cryptocurrency. Trump recently nominated Paul Atkins, a known pro-crypto figure, as the next head of the SEC. This move was seen as a clear message that Trump supports digital currency and plans to make it easier for crypto to grow in the U.S. Adding to the excitement, Trump also announced the idea of creating a “Crypto Strategic Reserve.” This reserve would include popular cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana. The news created a wave of excitement in the market, especially among meme coin investors.
As a result of these combined events, a new Solana-based meme coin called “Trump Fires Powell (TRUMPPOW)” shot up by over 15,000% right after its launch. This shows how strongly political news and powerful endorsements can affect crypto prices, especially in the world of meme coins.