May 30, 2024 - Economy

🎃 Charted: 📊 45 to 47 (million)

The line chart shows the daily price of the trump memecoin, labeled as MAGA, from Jan. 1 to May 29, 2024. The price fluctuates over time, with several notable peaks and troughs. The memecoin began the year at $0.24, and it approached $10 as March began, before losing almost half its value. However, the price started surging in May, and it has risen to over $14.
Data: CoinGecko; Chart: Axios Visuals

Trump's fortunes are rising dramatically, on the Ethereum blockchain.

Zoom in: The meme coin made in honor of the 45th president is up over 17 thousand percent this year, executing an enormous surge through May.

In the weeds: The meme coin, Trump (MAGA), was created in August 2023, and it has no affiliation with the man himself.

  • The group behind it donates to support veterans and the rescue of children.
  • The website shows donations to several organizations, claiming to have given over 436.5 ETH ($1.6 million) in charitable contributions. It's been making its donations through Every.org, which shows each one.
  • Every sale or transfer of MAGA has a 1% tax, to fund its promotion.

By the numbers: The total supply is 47 million, and it's held in 23,445 Ethereum accounts.

  • Trump was the 45th president, but, if he wins in November, he will also be the 47th.
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