Political Drama Pushed Biden And Trump Meme Coins; Here’s The Report
As the rallies and speeches are running from both Joe Biden and Donald Trump for the upcoming presidential election 2024, things are getting challenging day by day. From the critics who want Joe Biden to retire from politics under the consideration of his age to the recent assassination attempt on Donald Trump, the political drama is at its peak. The impact of this is in the voter’s sentiments, but the Joe and Trump meme coins are also affected.
From sudden fall to sudden rise, the performance of these political meme coins has become unpredictable. More importantly, their performance is now dependent on the news and updates like the recent attack on Donald Trump to boost their prices.
Analyzing The Biden And Trump Meme Coins
Trump meme coins have set their foot deeply in the market as more and more such cryptos are getting launched. But the Biden Meme coins are new and slowly setting their demand as well. In the case of Biden, Jeo Boden (BODEN) is the only token available and has been trading for four months. BODEN peaked at the beginning of April, creating an ATH of $1.07 before entering a downtrend, continuing to this day. Overall, this Boden theme meme coin is in loss of 5.6%.
On the other hand, with Trump meme coins, the number is much higher, but the most famous ones are the MAGA (MAGA) and MAGA (TRUMP). MAGA (TRUMP) has been part of the market since last year, while the other was launched this year and has had decent gains.
The political aspect is unclear, but the popularity of Donald Trump is higher in the meme coins. It is because Trump has revealed his interest in crypto and is even one of the guest speakers at the Bitcoin Conference 2024. Trump has also promised the voters to support and develop the crypto industry.
How These Meme Coins Reacted After Assassination News?
With this attack, a big rally was noticed on July 14 before declining on the 15th for the Trump meme coins. However, the Biden meme coin had a slight decline on the 14th before surging on the 15th per CoinmarketCap. This behavior comes after rising conflict on the attack being staged or attempted by the opposition.
Boden is currently trading at $0.03371 after dropping as low as $0.03087 yesterday. Almost no impact of the attack can be seen on this token as a downtrend was already in the charts.
Also Read: Why Is Ethereum (ETH) Price Soaring Above $3,300?
In contrast, MAGA (TRUMP) is trading at $7.74 after a 2.6% drop in the last 24 hours. However, the MAGA price has climbed to $10.09 within 45 minutes from the previous value of $6.24. TRUMP was down in the market after it fell from the ATH of $17.52, but that has changed now.
The same is the case with MAGA (MAGA), as the price jumped from $0.0001913 to $0.0002665 under a few minutes. And today the price has declined to $0.0001894 after a 5% drop.
Final Thoughts
The political drama has favored the trump meme coins more as the ex-president is known for his controversial remarks. Now the investor’s attention is on the Bitcoin conference and what Trump has to say about this industry.
Continue Reading The Biggest Bitcoin Controversy: Kevin Day’s Mt. Gox Nightmare of $16 Billion
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