- Kamala Harris and Donald Trump spark controversy with ‘unstable’ debate
- Both presidential candidates intentionally skipped the cryptocurrency discussion.
- Donald Trump-themed TRUMP coin falls 80% from all-time high
The first presidential debate between Donald Trump and Kamala Harris sparked controversy across the country and beyond. As the first debate after President Joe Biden’s departure, the ABC-hosted event played into the sentiment surrounding political meme coins.
Holders of the Trump-flavored MAGA (TRUMP) meme coin were shocked by the sudden plunge below $3, a level not seen since August 21, 2024. MAGA plummeted from $3.42 to $2.92 in about an hour, wiping out the rest of its monthly gains. Trump’s publicly tracked cryptocurrency wallet lost $272,000, and the 45th President holds 579,290 MAGA tokens.
Trump and Harris tie at Polymarket
The debate caused a huge stir in the prediction markets, with Democratic candidate Kamala Harris tying the score and offsetting the Republican candidate’s narrow lead.
The negative sentiment has spread to other PolitiFi tokens that use Trump’s name, such as the Make America Great Again Hat (MAGA), which has fallen 20.3% in the past 24 hours, shedding more than $9 million in market cap.
With 55 days left until voters decide who will succeed Biden in the White House, it’s still unclear whose game it is. Harris has yet to comment on cryptocurrencies, but Trump’s chances of securing the crypto vote remain questionable.
While there are more crypto pundits supporting Trump, the recent X hack and Donald Trump’s dubious claim during a debate that immigrants eat cats and dogs may have created uncertainty and doubt among his supporters.
On the other side
- A Kamala Harris-themed cryptocurrency gained renewed attention during the ABC presidential debate, but later suffered a similar fate to the Trump-themed coin.
- For example, the satirical Kamala Horiz (KAMA) coin surged 7% during the debate, but later fell more than 11% before returning to its pre-debate price, which was $0.0076.
Why this matters
The American political scene is becoming increasingly intertwined with blockchain technology as politicians compete for influence among cryptocurrency voters.
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