Donald Trump-Themed Memecoins See Major Drops After Presidential Debate
- Amid the political fervor, memecoins themed around President Joe Biden and candidate Donald Trump experience significant fluctuations.
- The recent presidential debate has had a notable impact on the PolitiFi (political tokens) category.
- According to data from CoinGecko, many political-themed memecoins have exhibited sharp price movements.
Get the latest insights on how political debates are influencing the volatile world of memecoins, including Biden and Trump-themed tokens.
Trump-Themed Memecoin (TRUMP) Faces Significant Decline
The largest Trump-themed memecoin by market cap, TRUMP, saw a drop of 14.1% in the last 24 hours. Despite expectations for a positive price movement during the debate, the token plummeted to a market value of $364 million. Although Trump’s performance in the debate was strong, investors were left disappointed. At the time of writing, TRUMP is trading at $7.91.
Maga Hat (MAGA) Sees a Drastic Price Drop
Inspired by Trump’s signature slogan, Maga Hat saw a dramatic decline of 35.3% within a few minutes, bringing its market capitalization down to $102 million. This sharp drop has raised alarms within the PolitiFi category, signaling potential instability. Currently, MAGA is trading at $0.0002509.
BODEN Memecoin Suffers in the Wake of Presidential Debate
The Joe Biden-inspired memecoin, BODEN, experienced a significant 37.8% drop in the past day. As Biden lagged behind Trump in the debate, both political figures and crypto investors expressed concern. The result was a dramatic price decline, with BODEN now valued at $56 million and trading at $0.08182.
Trump Mania (TMANIA) Records Near 50% Loss
With a lower market cap compared to other political memecoins, Trump Mania suffered a nearly 50% loss, reducing its market value to $3.68 million. This token’s high risk-reward ratio has further highlighted the volatile nature of political memecoins.
Super Trump (STUMP) Drops Below Key Support Level
Once considered a promising candidate in the PolitiFi space, Super Trump fell by 18.3% over the last 24 hours. The token lost its $0.015 support level amid negative fundamentals and heightened selling pressure. STUMP now trades under $30 million in market cap, with a current price of $0.01247.
Conclusion
The recent presidential debate has had immediate and marked effects on political-themed memecoins, highlighting the intertwined nature of politics and cryptocurrency. While expectations were high, the pricing volatility serves as a stark reminder of the risks associated with these niche tokens.
