- The political meme coins associated with Donald Trump and Joe Biden experienced notable fluctuations following their recent debate.
- Donald Trump garnered substantial commendation, while Joe Biden faced significant criticism from various sectors, especially within the crypto community.
- These reactions had a considerable impact on the meme coins inspired by both political figures.
Post-debate surge and plummet in political meme coins reflect market sentiment. Find out how MAGA, TrumpCoin, and Jeo Boden reacted to the latest political showdown.
Impact of the Debate on Trump-Related Meme Coins
In the aftermath of the recent Donald Trump vs. Joe Biden debate, meme coins associated with Trump reflected noticeable volatility. The MAGA coin, which pays homage to Donald Trump, experienced a pronounced shift in its market behavior. As of the latest data, the MAGA coin is valued at $8.07, indicating a 10.06% drop within the last 24 hours. Despite this dip, MAGA’s trading volume remains robust, standing at $24.46 million, and it holds the #211 position on CoinMarketCap with a market capitalization of $355.03 million.
Intriguingly, the MAGA coin’s fluctuations seem to oscillate in tandem with Trump’s political maneuvers and his prospects for the 2024 presidential race. Previously, MAGA achieved a peak price of $17.52, only to witness a 54% decline since then. The recent slump implies that even as Trump’s chances of reelection climb to 63%, the coin struggles to uphold momentum, reflecting the inherent risks and volatilities within the crypto sphere.
Spotlight on TrumpCoin (DJT)
TrumpCoin (DJT), another prominent political meme coin tied to Donald Trump, has also been at the center of discussions. Currently priced at $0.010928, TrumpCoin saw a modest decline of 0.26% over the past day, with a trading volume of $10.52 million. Its CoinMarketCap ranking is #2565 due to its recent launch, and its total supply is capped at 10 billion DJT coins. However, there seems to be a cloud of uncertainty regarding its circulating supply.
The TrumpCoin narrative is further complicated by claims from Martin Shkreli, who alleged collaboration with Barron Trump in launching this coin. These assertions led to substantial controversy, especially amid insider trading accusations linked to Shkreli. Such dynamics have played a role in influencing TrumpCoin’s price movements in the volatile crypto market.
Decline of Joe Biden-Inspired Meme Coin: Jeo Boden (BODEN)
The Jeo Boden (BODEN) coin, which draws its inspiration from President Joe Biden, has seen a sharp downturn. Priced at $0.073805, BODEN has plummeted by 46.88% in the past 24 hours with a trading volume of $36.07 million. This significant drop aligns with Biden’s controversial remarks during the recent debate, impacting public and market sentiment towards his meme coin.
Unlike the Trump-related coins, BODEN’s performance seems more intricately tied to the political discourse and public perception of Biden’s policies and statements. Such movements highlight how political dynamics can influence the speculative behavior of investors in the meme coin market.
Conclusion
The recent debate between Donald Trump and Joe Biden has underscored the sensitive and volatile nature of political meme coins. While Trump-inspired coins like MAGA and TrumpCoin showed resilience despite political ups and downs, Biden’s BODEN coin witnessed a dramatic decline. These trends not only reflect the dynamic interplay between politics and crypto markets but also serve as a reminder of the speculative risks inherent in meme coin investments. Investors should remain vigilant and informed as they navigate this unpredictable landscape.
