Cryptocurrencies in honor of Donald Trump plummet after debate with Kamala Harris

Famous Donald Trump-related meme coins experienced a significant drop in value after the debate between Kamala Harris and former President Trump ended. The first presidential debate ended without any mention of cryptocurrencies, which disappointed many crypto enthusiasts.

According to analysts, it was the absence of topics about digital assets that led to a sharp reaction of the crypto market, which particularly affected Trump-related meme coins. The total market capitalization of PolitiFi meme coins fell by 8.7%. Individual coins suffered even more: MAGA (TRUMP) fell by 10.0%, and MAGA Hat (MAGA) by 22.5%. Doland Trump (TREMP) fell by 27.5%, and Super Trump (STRUMP) by 12.3%. On the other hand, the Kamala Horris (KAMA) meme coin rose by 7.3%.

Such fluctuations in the value of meme coins coincide with changes in the electoral odds on platforms such as Polymarket. After the debate, Harris’s chances of winning increased by 3%, while Trump’s decreased by the same amount. Analysts have long been discussing the influence of political figures on the cryptocurrency market. For example, Bernstein experts predicted that Trump’s victory in November could lead to a rise in the bitcoin price to $ 90,000 by the end of the year. This expectation is related to Trump’s pro-cryptocurrency stance. In contrast, the prospects for the crypto market under the Harris presidency remain uncertain: some analysts fear that bitcoin could fall to $ 40,000.

«Every fifth American adult owns a cryptocurrency. And yet it was not mentioned in the presidential debate as an issue of concern to voters. If you love cryptocurrencies, make sure your voice is heard this November and take part in the voting,» Coinbase said.