Political Events Influence Decline of Former President Trump-themed Meme Coins
Publication Time:2024-09-12 02:36:09
Following an important political event, Meme coins themed around former President Donald Trump experienced a market sell-off after their first debate with current Vice President Kamala Harris, leading to a drop in the prices of related tokens. According to CoinGecko's data, the overall market capitalization of the PolitiFi板块 fell by 9% within 24 hours to $535 million. PolitiFi is a project focused on political figures that creates meme-based tokens, with no formal ties to any specific political individual. Among these, MGA (TRUMP) saw a decrease of 16%, STRUMP (Super Trump) dropped by 10%, MAGA (MAGA Hat) and TREMP (Doland Tremp) fell by 22% and 28% respectively. Additionally, other tokens related to Trump experienced a decline of at least 20%, including DMAGA (Dark MAGA), FIGHT (Fight to MAGA). The KAMA (Kamala Horris) token fell by approximately 11%. Market experts noted that Harris' performance in the debate exceeded market expectations, resulting in changes in market sentiment and triggering a selling spree for these Meme coins.
Meme Coins
market response
political events