MAGA, STRUMP coins drop as a result of Trump Media’s recent SEC filing.

The top trending tokens in the politics-inspired memecoins world, TRUMP, MAGA and STRUMP, were observed to be trading lower during afternoon trading. According to data from CoinMarketCap, the price of MAGA Hat had decreased by more than 15% in the past 24 hours. Additionally, both TRUMP and STRUMP witnessed a reduction in recent gains, with percentages of -8.3% and -4.4% respectively in the past week. Over the last 24 hours, both tokens experienced a decline, with a spike in volatility leading to prices of $13.74 and $0.02239 respectively.

The majority shareholder of Trump Media, former US president, reported that the company had hired Semple, Marchal & Cooper, LLP for reaudit. This decision was made in response to the U.S Securities and Exchange Commission (SEC) recently charging Trump Media’s previous auditor with fraud. On May 27, MAGA Hat reached a value of $0.0007379, and Trump’s increasingly crypto-friendly tone and pledges, coupled with recent events, contributed to the surge in memecoins and to his wallet haul. In the wake of the guilty verdict against Trump in New York, memecoins like Never Surrender (TRUMP) and FreeTrump (TRUMP) experienced a significant increase.

According to details shared by blockchain security firm Arkham Intelligence, the crypto wallet linked to Donald Trump surpassed $30 million due to the surge in memecoin donations. However, the declining prices have led to a decrease in the total value of holdings in the wallets linked to the 2024 Republican Party presidential candidate.

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