PolitiFi memecoins tank amid Trump vs Biden presidential debate
Memecoins rose as much as 53% on the inspiration of US President Joe Biden and candidate Donald Trump, as the pair battled it out in the first two live presidential debates.
America's great re-themed TRUMP token started falling about 20 minutes before the debate began, on June 27, 9pm ET, down 24.6% to $7.23 at its current price, according to CoinGecko data.
Geo Boden (BODEN) fell more than 53% from its June 27 high of $0.17 to $0.08 shortly after the debate. It made a partial recovery to $0.091.
SUPER TRUMP (STRUMP) and BABYTRUMP (BABYTRUMP) also held double digits during and after the debate.
Trump and Biden have largely debated issues related to the economy, immigration, war and abortion.
The speaker was neither about the cryptocurrency sector nor the topic raised by the moderators. This is despite the super political action committees backing the cryptocurrency industry with more than $200 million to influence the 2024 elections.
Biden and Trump will have one more opportunity to discuss issues related to the digital asset industry on September 10, when the next debate is scheduled.
Despite the decline in the value of PolitiFi coins, Bitcoin (BTC), managed to increase 1.1% in the 90-minute debate.
Related: Solana ETF Possible With Change in POTUS, SEC: Balchunas
Prediction Markets' data forecast shows that while Trump's chances of winning the presidency have increased, Biden's chances have declined, with viewers reading Alden stumbling over some answers and missing some sentences in the debate.
Trump's odds on the platform increased from $0.53 to $0.63, while Biden's odds fell sharply from $0.48 to $0.37 over the same period.
Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.
