Meme Cryptocurrency Prices Drop After Trump-Biden Debate
During the much-anticipated debate between incumbent President Joe Biden and former President Donald Trump, the market for candidate-related meme coins saw a significant drop.
Memecoins, thematically linked to the presidential contenders, grabbed the attention, with a market cap now of $1.154 billion, down 5.6% from the previous day, according to data from Coingecko .
Following the debate, key meme tokens in the category saw sharp declines: Trump-linked MAGA down 11.5% in the past 24 hours, MAGA Hat down 19%, BODEN on Solana – by 26%, TREMP – by 9.2%, and the one based on Ethereum STRUMP – with 14.7%. These moves underscore the volatility fueled by the debate.
Max Jones of Memepad noted these coins as gauges of candidate popularity amid the heightened momentum of the election season.
READ MORE:
Verbal skirmishes at the first debate between Biden and TrumpBitfinex analysts see Trump as a favorable choice for the crypto community, citing support from figures such as the Winklevoss twins, who donated $2 million in BTC, though some of the donation was returned. They expect that Trump's presidency could improve crypto regulations compared to the current administration.
The CNN debate marked the first direct face-off between Biden and Trump since 2020, drawing significant interest across sectors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
This year's hottest cryptocurrency trade suddenly collapses—should investors cut their losses or buy the dip?
The cryptocurrency boom has cooled rapidly, and the leveraged nature of treasury stocks has amplified losses, causing the market value of the giant whale Strategy to nearly halve. Well-known short sellers have closed out their positions and exited, while some investors are buying the dip.
Showcasing portfolios, following top influencers, one-click copy trading: When investment communities become the new financial infrastructure
The platforms building this layer of infrastructure are creating a permanent market architecture tailored to the way retail investors operate.
Ripple raised another $500 million—are investors buying $XRP at a discount?
The company raised funds at a valuation of $40 billions, but it already holds $80 billions worth of $XRP.
CoinShares: Net outflow of $1.17 billion from digital asset investment products last week.
Trending news
MoreCrypto prices
More
