As a seasoned crypto investor with several years of experience under my belt, I’ve seen my fair share of market volatility and political influence on digital assets. The ongoing presidential election drama between Joe Biden and Donald Trump has added an extra layer of uncertainty to the already unpredictable world of crypto.
With the presidential election of 2024 approaching, tensions are high as Joe Biden and Donald Trump engage in rallies and heated speeches. Critics call for Biden’s retirement due to his advanced age, while Trump faces a recent assassination attempt – adding fuel to the political fire. The fallout reaches beyond public opinion, affecting the value of meme coins bearing their names.
The once stable trajectory of political meme coin values has unexpectedly shifted between plunges and surges. Notably, current price fluctuations are heavily influenced by breaking news and developments, such as the recent incident involving Donald Trump, which can significantly impact their value.
Analyzing The Biden And Trump Meme Coins
Trump-themed meme coins have gained significant traction in the cryptocurrency market with numerous new entries. On the other hand, Biden meme coins, led by Jeo Boden (BODEN), are still a relatively new phenomenon and are gradually building demand. BODEN has been in circulation for the past four months and reached its all-time high of $1.07 at the beginning of April. Since then, it has experienced a downtrend, resulting in a 5.6% loss for investors.
In contrast to Trump meme coins, the well-known ones in smaller numbers are the MAGA coins with the labels “MAGA” and “Trump.” The coin labeled “Trump” entered the market last year, while the other was introduced this year and has experienced modest growth.
The political dimensions remain vague, yet Donald Trump’s following among meme coins is substantial. This can be attributed to Trump’s open expression of interest in cryptocurrencies and his participation as a keynote speaker at the Bitcoin Conference 2024. Moreover, he has pledged to champion and foster the crypto sector should he be elected.
How These Meme Coins Reacted After Assassination News?
On July 14, there was a significant increase in activity for Trump meme coins, as reported by CoinmarketCap. However, this trend reversed on July 15. In contrast, Biden meme coins exhibited a small decline on the 14th followed by a surge on the 15th. These price fluctuations come after increasing tensions surrounding alleged attempts or staged attacks by opposing forces.
The price of Boden is presently at $0.03371 following a decline that reached a low of $0.03087 the previous day. The assault on this token has had minimal effect, as a descending trend was already evident in its price chart.
Contrarily, MAGA (TRUMP) currently stands at $7.74 following a 2.6% decline over the past day. Yet, within just 45 minutes, its price surged from $6.24 to reach $10.09. Prior to this, the MAGA price had taken a hit in the market after plunging from its all-time high of $17.52. However, the situation has since shifted.
MAGA’s (MAGA‘s) value surged from $0.0001913 to $0.0002665 within a short time span. However, its price has subsequently dipped to $0.0001894 today, marking a 5% decrease.
Final Thoughts
The political scene has given an edge to Trump meme coins, with the former president’s contentious statements drawing interest. Now, investors are focused on the Bitcoin conference and eager to hear Trump’s take on the crypto sector.
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2024-07-15 19:08