CandleFocus Donald Trump-Themed Meme Coins Skyrocket Amid US Election Fervor
2024-11-06
Author: Content Editor
On Election Day, the crypto market saw increased activity, with Bitcoin reaching a new all-time high as investors anticipated Donald Trump becoming the new US president. Political-themed meme coin prices also surged, with the market capitalization and trading volume of these coins experiencing significant increases. While meme coins related to Trump saw strong price increases, those related to Harris experienced declines, reflecting traders' expectations of a Trump victory. The top 5 political meme coins by market capitalization all recorded gains, mostly related to Trump, while those related to Harris saw sharp declines. MAGA (TRUMP) had the highest daily volume since July, but the price of TRUMP experienced volatility and is currently trading at $3.63. In contrast, Kamala Horris (KAMA) dropped 70%. The number of newly created tokens on election day slightly increased, with a significant number of political meme coins among them. Meme coins are expected to remain in the spotlight for the next four years. However, it is important to note that most political-themed meme coins are spontaneous creations with low trading volumes.
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