Donald Trump Name-Drops Mog Coin: What to Expect?

Donald Trump name-dropped Mog Coin (MOG) on X.
The cryptocurrency’s price nosedived more than 8%.
Trump also name-dropped a cryptocurrency called Chinese Stock Market (SSEC).

Donald Trump, the Republican candidate for the upcoming presidential election in the US, has voiced his support for Mog Coin (MOG), a viral meme coin based on the ERC-20 token standard on the Ethereum network. But the token experienced a sharp 8.20% decline over the past 24 hours following Trump’s statement.

In a post on X (formerly known as Twitter), Trump praised Mog Coin, adding that he plans to share important updates regarding election procedures in North Carolina. He urged supporters of the project to be ready to vote by November 5th.

Interestingly, Trump also referenced the Chinese Stock Market (SSEC), a Solana-based digital asset with a market cap of $2 million, currently valued at $0.00204544 based on SOLSCAN data. In his message, Trump mentioned the coin alongside updates about North Carolina.

@SSEC_Solana THANK YOU for liking my post!
I’ll send you IMPORTANT ELECTION UPDATES for North Carolina. Make sure you are ready to VOTE FOR DONALD J. TRUMP by November 5th.
Reply #stop to opt-out.
— Donald J. Trump (@realDonaldTrump) October 3, 2024

Crypto and Charity: Trump’s Appeal for Hurricane Helene Victims Using Digital Assets

Trump’s post also aimed to rally support for victims of Hurricane Helene in North Carolina, where floods have left thousands of residents struggling with a shortage of basic necessities like water. Civil volunteers have stepped in to assist where the Biden administration has reportedly failed to control the situation.

Congressman Mike Waltz criticized the government’s response in an X post, and Trump called on the crypto community, including projects like MOG and SSEC, to assist in the relief efforts.

Read also: Trump, Harris, and the Future of U.S. Crypto Regulation: What to Expect

People are DYING stranded in the mountains of North Carolina.
Civilian volunteers are stepping in where they can but why hasn’t Biden-Harris authorized the DOZENS of active duty helicopters sitting at Ft. Bragg (Liberty) just down the road to go help? https://t.co/WjJIo2nZLU
— Rep. Mike Waltz (@michaelgwaltz) October 2, 2024

Mog Coin’s Price: A Volatile Month of Gains and Losses

Mog Coin has seen its value climb by nearly 50% over the past 30 days, according to CoinMarketCap data. With a market capitalization of $558 million, MOG currently ranks 106th on CoinMarketCap and has increased by 7.37% in just the past week.

At the time of writing, MOG is trading at $0.051426, though it has dropped more than 8% recently. This pullback could be seen as part of a larger correction after the significant price surge over the past few days.

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Source: https://coinedition.com/trumps-support-for-mog-coin-a-political-statement-or-market-influence/