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PolitiFi memecoins tank amid Trump vs Biden presidential debate

News Feed - 2024-06-28 02:06:55

Brayden Lindrea3 hours agoPolitiFi memecoins tank amid Trump vs Biden presidential debateThe Jeo Boden memecoin was hardest hit, falling over 53% from its 24-hour high during presidential debate night.521 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksMemecoins inspired by United States President Joe Biden and candidate Donald Trump tanked up to 53% as the pair battled it out during the first of two live presidential debates.


The Make America Great Again-themed TRUMP token started to fall around 20 minutes before the debate kicked off on June 27, 9pm ET, falling 24.6% to $7.23 at current prices, CoinGecko data shows.


The Jeo Boden (BODEN) was hit even harder, falling over 53% from its June 27 high of $0.17 to $0.08 shortly after the debate. It has made a partial recovery to $0.091.BODEN’s change in price over the last 24 hours. Source: CoinGecko


Super Trump (STRUMP) and BABYTRUMP (BABYTRUMP) also tanked double digits during and after the debate.


Trump and Biden mostly debated issues relating to the economy, immigration, wars and abortion.


Neither speaker mentioned the cryptocurrency sector nor was the topic raised by the moderators. This is despite a trio of super political action committees supporting the cryptocurrency industry raised over $200 million to influence the 2024 election.


Biden and Trump will have one more opportunity to potentially discuss issues related to the digital asset industry on Sept. 10, when the next debate is scheduled.Top 10 largest PolitiFi memecoins by market cap and their price changes over the last 1 hour, 24 hours and 7 days. Source: CoinGecko


Despite the price fall in PolitiFi coins, Bitcoin (BTC), managed to rise 1.1% during the 90-minute debate.


Related:Solana ETF possible with a change in POTUS, SEC: Balchunas


Data from prediction markets platform PredictIt showed Trump’s odds of winning the presidency increased while Biden’s chances plummeted, as watchers noticed Biden stumbled through some answers and failed to finish some sentences throughout the debate.


Trump’s odds on the platform increased from $0.53 to $0.63, while Biden’s fell sharply from $0.48 to $0.37 in the same timeframe.


Magazine:Lawmakers’ fear and doubt drives proposed crypto regulations in US# Cryptocurrencies# Politics# Business# Adoption# United States# Donald Trump# Memecoin# Joe BidenAdd reaction

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