Alcatraz crypto pumps as Trump plans to reopen infamous prison

Summary: ⚈ ALCATRAZ meme coin rallied after Trump’s Alcatraz prison post. ⚈ The coin’s surge mimicked other opportunistic political-themed token launches. ⚈ Multiple ALCATRAZ tokens exist, but one led with a 255% price spike. A newly-listed meme coin, Jail of the United States (ALCATRAZ), was quick to rise to stardom and enjoy a strong rally in the night between May 4 and May 5 after President Donald Trump revealed his plans for the famed prison in a Truth Social post. The ALCATRAZ cryptocurrency’s price tracking started late Sunday on TradingView. Within about three hours, it soared from $0.00008154 to highs at approximately $0.0002895, for a total rally of 255.04%. While the surge did not last long and Jail of the United States swiftly entered a correction, it remains, at its press time price of $0.0001266, up 55.26%. The opportunistic launch of ALCATRAZ Both the timing of the listing and the fortunes of the cryptocurrency position ALCATRAZ as an opportunistic launch akin to the Pope meme (POPE) – the papal conclave is scheduled to meet on May 7 – and even Official Trump (TRUMP), which was launched shortly before the January 20 inauguration. There are at least three Solana (SOL)-based tokens of the same name listed on PumpSwap, per the data Finbold retrieved from CoinMarketCap on May 5. The three have significantly different prices, numbers of holders, and market capitalizations, which range between $56,000 and $72 million. Two out of the three, however, have their charts break off within hours in the night between Sunday and Monday. Given that a report found 97% of meme coins were declared ‘dead’ in 2024, investors should be wary when looking for quick gains with such digital assets. Why the Alcatraz meme coin is pumping Jail of the United States emerged into the light near the time President Donald Trump published a social media post revealing he had directed the Bureau of Prisons, Department of Justice, FBI, and Homeland Security to reopen Alcatraz. According to the announcement, the famed and notorious prison, originally closed due to being unreasonably expensive, ‘will serve as a symbol of Law, Order, and JUSTICE,’ and signal that the administration will not ‘will no longer be held hostage to criminals, thugs, and Judges that are afraid to do their job.’ Given that the post made mention of individuals who entered the U.S. illegally, it is unclear if the reopening of Alcatraz will impact the CECOT scheme with El Salvador. Featured image via Shutterstock Source: https://finbold.com/alcatraz-crypto-pumps-as-trump-plans-to-reopen-infamous-prison/