A meme coin that directly parodies President Trump’s own TRUMP token is planned to be launched by Californian Governor Gavin Newsom. It has been said by Newsom that the token will be called ‘Trump Corruption.’
The Californian governor Gavin Newsom continues his crusade to have the president trolled at every turn. This time, a different turf is being come after by him. He shifts gears from using social media posts by diving into the world of cryptocurrencies.
While an episode of the tech, business and politics podcast, Pivot, was being co-hosted by him with journalist Kara Swisher, his next big plan to have the president trolled was revealed by Gavin Newsom.
On the YouTube video for Pivot, it was said by Newsom that ‘We’re about to have a meme coin put out and you know what, Donald Trump, we’ll see how well your coin does versus our coin.’
Although no launch date has been announced yet, it was stated by Gavin Newsom that the token will be called the ‘Trump Corruption’ coin. However, naming the token ‘Smelt’ was considered by him, which was inspired by how a strong odor has been described as being had by Trump by several news outlets.
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The announcement is coming just a few days ahead of the Trump-backed project, World Liberty Financial token launch, which has had the crypto community taken by storm. In fact, more than $5 billion in net worth was amassed by the Trump family following the debut of WLFI.
As one of the first Democratic politicians to have joined Truth Social, it was explained to Swisher by Newsom that his team is prepared to have an all-out attack against Trump. So far, merchandise with slogans like ‘Make America Gavin Again’ has also been launched by Newsom, and faux bibles have been sold that parody the ones that have been sold by Trump’s team.
It was said by him that ‘That’s when we just said, ‘We’re on the other side of this. And the team was told, ‘it’s no permission slip now, not even forgiveness. You just go and we go hard, and we don’t stop.’
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Newsom’s New Tactic: Mimicking Trump to Attack His Brand
According to his interview with Pivot, his team is encouraged by Newsom to try new things to have the Trump administration criticized. In particular, he’s being geared towards attacking the president of the United States by having the moves that have been made by him in the public and digital sphere mimicked.
It was said by Newsom that, ‘I mean, we’re just trying to have the heat turned up. And have people tuned into the absurdity.’
With regards to the Trump Corruption meme coin, it was said by him that all proceeds from the token will be given to his ‘Campaign for Democracy.’
It was said by Newsom that ‘All of [the proceeds] will be given to our Campaign for Democracy. They are being used for this effort on redistricting. They are being used in our effort to have awareness continued to be raised and communicate and organize.’
Market Snapshot: A Look at TRUMP Token’s Recent Price Action
If a token that can surpass the Trump’s token is to be launched by Gavin Newsom, it would have to have better performance than the official TRUMP meme coin. This means that the current all-time high of $73.43 would have to be surpassed, and a market cap equal to or more than $1.6 billion would need to be accumulated during its trade.
However, it could be benefited from a strong launch that could have TRUMP outperformed, as it is currently on a downtrend.
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At press time, a sharp decline of more than 5% has been experienced by TRUMP in the past 24 hours. In the past hour, it appears that resistance near $9.20 is being tested, with the price having been dropped by roughly 11% in a single move, pulling back toward $8.34.
Weakened momentum is reflected by the Relative Strength Index, which sits near 42, but oversold territory has not yet been entered. It is suggested by this that the market is currently being dominated by sellers, though possible short-term support is indicated by consolidation around the $8.20–$8.40 zone.
If the TRUMP meme coin fails to be held up within the $8.20 range, losses could be extended further below $8.00. Recovery attempts would need to have $8.70 reclaimed before the $9.00 zone is attempted to be reached again.
