Newsom’s Meme Coin Challenges Trump’s Crypto Empire

California Governor Gavin Newsom has launched a satirical campaign targeting Donald Trump’s crypto ventures, with plans to introduce a “Trump Corruption Coin” as a direct jab at the ’s controversial involvement in the digital asset space, particularly through memecoins. Speaking on the “Pivot” podcast, Newsom emphasized that the project is part of his broader “Campaign for Democracy,” with proceeds earmarked to support voter outreach and redistricting efforts. “We’re about to put a meme coin out,” Newsom said during the interview, adding, “And you know what, Donald Trump? We’ll see how well your coin does versus our coin.” The governor explicitly named the coin after Trump’s alleged scandals, rejecting suggestions of a “Gavin Coin,” and underscored the absurdity of Trump’s crypto dealings by labeling him “one of the great grifters of our time” [1].

Newsom’s campaign to parody Trump’s branding extends beyond the memecoin. Over the past week, he has mimicked Trump’s signature all-caps tweets on X, using his official press office account to post statements in the style of the . In one post, he wrote, “EXCEPT WHAT IS WRITTEN AND BROADCAST IN THE FAKE NEWS, I NOW HAVE THE HIGHEST POLL NUMBERS I’VE EVER HAD, SOME IN THE 60’S AND EVEN 70’S. THANK YOU. MAKE AMERICA GAVIN AGAIN!!! — GCN.” He has also launched an online store selling MAGA-style merchandise, including red hats labeled “NEWSOM WAS RIGHT ABOUT EVERYTHING!” [1].

Meanwhile, Trump’s own crypto ventures have seen significant developments. The price of TRUMP, the memecoin associated with Trump, surged nearly 10% in a single day, reaching $9.21, even as the broader crypto market experienced a correction. The uptick in demand was fueled by the launch of the WLFI token on Binance and Kucoin, as well as the introduction of the USD1 stablecoin on Solana. According to data from CoinMarketCap, TRUMP’s trading volume spiked by 837%, and its open interest rose by 38.28%, indicating strong investor interest. Analysts attribute this surge to the hype surrounding Trump-related crypto assets and the belief that WLFI’s success could reinforce the narrative around TRUMP [2].

Technical indicators also support a bullish outlook for TRUMP. A 4-hour chart showed a breakout above the upper trendline of a symmetrical triangle, a pattern often signaling the start of a new upward trend. Momentum indicators such as the MACD and Chaikin Money Flow further reinforce this analysis, with the MACD forming a bullish crossover and the CMF rising above the zero line to 0.17, suggesting increased capital inflows. If this momentum continues and the support level at $8.29 holds, the price could potentially break past $10 [4].

Newsom’s “Trump Corruption Coin” initiative appears to be a strategic move to draw attention to what he perceives as the ’s unethical engagement with crypto. The campaign highlights the growing intersection of politics and digital assets, particularly as memecoins gain traction among retail investors. By framing the project as a means to support democratic initiatives, Newsom is leveraging the popularity of crypto to critique Trump’s business practices. The launch of the coin is expected to deepen the political discourse around crypto governance and accountability, particularly in the context of high-profile figures leveraging the space for personal gain [1].

The broader implications of this move remain to be seen, but the response in the crypto market underscores the volatile and speculative nature of memecoins. As the TRUMP coin continues to fluctuate, market observers will be watching closely to see if Newsom’s satirical campaign influences investor sentiment or merely adds another layer of noise to an already unpredictable space [2].

Source:

[1] California Governor Trump Corruption Coin Maga Memecoins (https://cointelegraph.com/news/california-governor-trump-corruption-coin-maga-memecoins)

[2] Here's Why TRUMP Coin Price Skyrocketing Today (https://coingape.com/trending/heres-why-trump-coin-price-skyrocketing-today/)

[3] TRUMP Crypto Rises as Bitcoin Falls (https://www.ccn.com/analysis/crypto/trump-crypto-target-breakout-amid-market-wide-sell-off/)