A new example has been added to the cryptocurrency market of the impact of statements by political figures like Donald Trump on memecoins with low market capitalization.
US President Donald Trump, in his speech at the United Nations General Assembly, said that instead of restricting artificial intelligence, they would encourage “super intelligence.” Trump also announced that the term “Super Intelligence” would be used for artificial intelligence in US government documents.
Following the announcement, the price of Super Inu, a Solana-based memecoin inspired by this statement, surged by over 300% in a short period.
According to the data, the token’s market value reached approximately $7.23 million after the surge. Super Inu is allegedly paired with tokenized NVIDIA shares and issued via the Stonk platform.
However, Trump’s statement did not mention the Super Inu token. There is no confirmed official link between the token and the US government, Donald Trump, or the Trump family.
Even small purchases of memecoins with low market capitalization can cause the price to rise sharply. Conversely, this can also lead to very rapid price drops when selling pressure begins.
*This is not investment advice.