CandleFocus Donald Trump-Themed Meme Coins in Freefall Following Fiery Debate With Kamala Harris
2024-09-11
Author: Content Editor
The first presidential debate between Vice President Kamala Harris and former President Donald Trump did not mention cryptocurrencies, leaving many disappointed in the crypto community. This lack of discussion resulted in a sharp reaction from the crypto market, particularly impacting meme coins associated with Trump. Several Trump-themed meme coins saw significant declines, with the total market capitalization of PolitiFi meme coins falling by 8.7%. Harris-themed meme coin Kamala Horris (KAMA) experienced a surge of 7.3%. The fluctuation in meme coin values is in line with shifts in election odds on platforms like Polymarket, where Harris's odds of winning increased by 3% and Trump's decreased by the same amount. The influence of political figures on the cryptocurrency market has been a topic of debate among analysts, with some predicting that a Trump victory could propel Bitcoin to as high as $90,000 by year-end. The crypto industry has also made significant political investments, with companies like Coinbase and Ripple contributing over $119 million to support pro-crypto candidates. However, despite these investments, the absence of cryptocurrency discussions during presidential debates has disappointed many in the crypto community.
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