Trump Meme Coin Price Drops During Presidential Debate
2024-09-11
Bittime - During the US presidential debate between Donald Trump and Kamala Harris, the price of meme coins related to Trump experienced a significant decline.
Trump Meme Coin Price Drops
When the US presidential candidate debate took place, the crypto market showed a sharp decline in meme coins related to Trump.
Several meme coins, such as TRUMP fell by 12.1%, MAGA fell 12.0%, TREMP fell even more to 17.2%, STRUMP fell 8.4%, MAGAA fell 7.6%, and FIGHT experienced a decline of 11.9% in just one hour.
The decline in the price of the Trump meme coin is most likely related to changing market sentiment as the debate progresses.
Read Also: Trump's Support for Crypto Could Potentially Make Him Win the 2024 US Election!
Kamala Harris Meme Coin Price Rises
Meanwhile, while Trump's meme coin experienced a decline, the meme coin related to Kamala Harris, namely KAMA, actually experienced a significant increase.
Within an hour, the KAMA token rose 18.2%, reaching a price of $0.009134. This increase in the price of the KAMA meme coin could reflect positive sentiment towards Kamala Harris during the debate.
US Presidential Debate and Crypto Markets
US presidential candidate debates often influence the crypto market. During the debate, the candidates' performance, the policies discussed, and the public's reaction can influence cryptocurrency prices.
In the case of meme coins associated with Trump, if Trump's performance is deemed less than convincing, investors may lose confidence in the coins associated with his name, ultimately leading to a decline in prices.
In contrast, the rise in KAMA, a coin associated with Kamala Harris, may reflect more positive market sentiment toward the candidate during the debate.
This shows how the crypto market, especially meme coins, can be very reactive to major political events such as presidential debates.
Read Also: Trump's Victory in the 2024 US Election Could Push Bitcoin Prices Up?
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