US Presidential Memecoins Experience Volatility After First TrumpBiden Debate
Last night’s inaugural 2024 US Presidential debate did not touch on cryptocurrency, but memecoins inspired by the candidates’ liken have shown a robust response.
Millions Americans tuned in to watch the first of debates between Republican candidate Donald Trump and incumbent Democratic President Joe Biden. The two candidates’ on crypto have been a hotly debated within the digital asset community. Trump has marketed himself as “The Crypto President,” while Biden’s campaign been criticized for its perceived anti-industry stance, as well as its close ties to Gensler’s administration.
Despite the buzz in the lead-up to last night’s, neither Bitcoin (BTC) nor cryptocurrencies were brought up. Nevertheless, two memeco based on the rival candidates’ likenesses experienced significant movements in response to the debate.
AGA (TRUMP), a memecoin that recently suffered a crash following rumors an official Trump-inspired memecoin launch, surged by 33%, from an initial low of $7.22 to a high $9.61 within 24 hours the broadcast. In contrast, Jeo Boden (BODEN) plummeted from a high of $01715 over 24 hours down to $0.07204—a drop of %.
At present, BODEN is valued at $0.07917—reflecting a decline of 37% for the day—while TRUMP has corrected and is priced at $7.24 with a drop of 19% over the same period.
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