Comment on US Presidential debate impacts political memecoin market

US Presidential debate impacts political memecoin market

As President Joe Biden and former President Donald Trump engaged in a historic televised debate, politically-themed memecoins experienced price fluctuations. The market for these tokens, now valued at $1.3 billion according to Coingecko’s PolitiFi category data, has dropped by 7.5% in the last day. Furthermore, several prominent candidate-inspired memecoins saw significant declines during the debate. On Ethereum (ETH), MAGA (TRUMP) fell 6.4% and MAGA Hat (MAGA) dropped 10.8% in an hour.

 

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