Election Day adds Donald-Trump themed meme coins
The crypto market became more active on election day. The price of Bitcoin (BTC) has officially hit a new all-time high as investors predict Donald Trump will become the new US President. In particular, the value of political themed meme coins has increased.
The market capitalization and trading volume of political meme coins increased dramatically on Election Day.
Donald Trump-themed meme coins are out
CoinMarketCap data shows that the market capitalization of political meme coins exceeds $640 million, increasing by 17% per day. Additionally, the 24-hour trading volume of these meme coins exceeded $400 million, an increase of 87 percent.
However, not all political meme coins have been profitable. While meme coins associated with Trump have seen strong price increases, those associated with Harris have seen large declines. This reflects traders' hopes for a Trump victory.
Top 5 Political Meme Coins by Market Capitalization All acquisitions in the last 24 hours, most of which are related to Trump. In contrast, political meme coins with the highest discount in the last 24 hours are related to Harris.
Read more: 11 Top Solana Meme Coins to See in November 2024
Notably, MAGA (TRUMP) recorded a daily volume of more than $40 million, the highest since July 20. However, as of this writing, it is trading at $3.63.
Meanwhile, Kamala Horis (KAMA) is down 70% today from $0.015 to $0.0045.
Additionally, the number of newly created tokens increased slightly on election day. Pump.fun reported over 26,000 new tokens created in the last 24 hours, the highest level since the beginning of the month. Among them are a large number of political meme coins.
X Tag DogeDesigner commented that meme coins will generally remain in focus for the next four years.
“Memes are going to be on for the next 4 years.” – DogeDesigner announced.
Read more: 7 Hot Meme Coins and Altcoins Trending in 2024
However, it's worth noting that most political-themed meme coins are haphazardly created, not directly linked to candidates, and have little traffic.
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