Donald Trump

Trump meme coin crashes, Kamala Harris Polymarket odds dip

Published

1 month ago

August 19, 2024

Political meme coins are a bust as digital tokens inspired by Republican presidential candidate Donald Trump plummet in value.

TrumpCoin (DJT) token crashed to a record low of $0.000157
MAGA: Fight for Trump (TRUMPCOIN) slipped to $0.0059, giving it a market cap of over $5.9 million.
MAGA (TRUMP), the biggest Trump-themed token, continued to fall by over 53% from its highest point this year.

Trump

The same trend has happened in the stock market where the Trump Media & Technology Group stock has fallen to $23, its lowest point since April.

One reason for this sell-off is that Trump’s odds of winning the general election have slimmed after President Joe Biden exited the race.

According to a Polymarket poll with over $628 million in assets, Trump and Vice President Kamala Harris are tied at 49% on Aug. 18, meaning that her odds have slipped in the past few days.

A national poll by the New York Times shows that Harris has a 49% chance of winning the presidency against Trump’s 47%. She also leads in some states like Wisconsin, Michigan, and Pennsylvania, while Trump leads in Arizona and Georgia.

Still, it is too early to predict who will win the election since most of these polls are within a margin of error.

Meme coins retreat

The ongoing retreat of tokens like Trumpcoin, Maga Hat, Trump, and Maga coincide with the ongoing meme coin crash.

Most meme coins have been in a steep sell-off in the past few weeks, bringing their total market cap to over $38 billion, down from the year-to-date high of over $63 billion. Most of them, including popular names like Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) have fallen by double digits from their highest points this year.

Meanwhile, Bitcoin is consolidating between the support level at $57,000 and the resistance point at $61,000. Typically, meme coins underperform the market when Bitcoin is not doing well.

On the positive side, there are signs that politicians are warming up to crypto. Trump often promises at his rallies and on his social media platform, Truth Social, that he plans to enact crypto-friendly policies if he wins a second term.

Democrats have also started to embrace cryptocurrencies and are working on a crypto regulation bill, according to recent comments from Senate Majority leader Chuck Schumer.

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Donald Trump

Donald Trump Makes Historic Bitcoin Payment At PubKey

Published

20 hours ago

September 19, 2024

admin

Today, history was made as President Donald Trump became the first US president to make a Bitcoin payment.

WATCH: 🇺🇸 DONALD TRUMP MAKES FIRST #BITCOIN TRANSACTION AT NYC BAR pic.twitter.com/rAjae6agH1
— Bitcoin Magazine (@BitcoinMagazine) September 18, 2024

The former President showed up to PubKey, a Bitcoin-themed bar located in the heart of Greenwich Village, New York City, to purchase some cheeseburgers (on National Cheeseburger Day) at the establishment, which was packed with Bitcoin enthusiasts there to welcome him.

“I think it’s a great place,” Trump said to Bitcoin Magazine about PubKey, before urging the types of Bitcoin enthusiasts who frequent the bar to vote this November.

“Get out and vote, because if you vote, we cannot lose. We want to get everybody that agrees with you people — and there’s a lot of people — [to vote],” he added.

“They’ve been treating you very badly at the SEC, and we’re going to treat you very fairly.”

Regarding the payment, Trump said it was easy to make and that it went through “quickly and beautifully.”

One of the most historic transactions in #bitcoin history was just made.
President @realDonaldTrump buying burgers at @PubKey_NYC with @tpacchia.
Block height: 861871
You saw it here first. pic.twitter.com/moHUIKDxej
— PUBKEY (@PubKey_NYC) September 18, 2024

After making the transaction, Trump, escorted by one of the bar’s owners, Thomas Pacchia, introduced himself to all in attendance.

“This was one of the most important Bitcoin transactions of all time,” said Pacchia.

“President Trump came to PubKey to connect with the Bitcoin community — to show his support to the Bitcoin community,” he added.

“We are very excited he was here.”

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cryptocurrency

MAGA, FIGHT, and DJT surge as Trump’s crypto project announces WLFI token

Published

2 days ago

September 17, 2024

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Donald Trump-themed cryptocurrencies surged as World Liberty Financial announced a new governance token.

Fight to MAGA (FIGHT) led the charge with a massive surge of over 150%, pushing its valuation to $10.3 million. TrumpCoin (DJT) also saw a strong rally, climbing 28% to reach $0.00032, its highest since Aug. 7, with daily trading volumes near $1 million. Meanwhile, MAGA (MAGA) rose by 18% over the past day, with a daily trading volume of $11.48 million.

All these gains helped push the total market cap of political-themed tokens past $481 million. Meanwhile, the community sentiment around the tokens had also turned bullish according to Coinmarketcap data.

These tokens rallied after Donald Trump’s crypto initiative, World Liberty Financial, announced its plans to release a governance token named WLFI.

WLFI has been advertised as a non-transferable governance token, allowing holders to propose and vote on platform-related matters. Approximately 63% of the total token supply is designated for public sale, with 17% for user rewards, and the remaining 20% for the team and advisors.

While the token’s launch date remains undisclosed, the project team has confirmed that sales will be limited to accredited investors.

Despite the rise on Sept. 17, political-themed tokens have been experiencing a downturn, with their total market cap now down to $481 million.

These tokens tend to gain prominence during election seasons, potentially losing much of their relevance after the elections conclude. Traders often refer to these as “event coins” because their prices are influenced as the date of the related event approaches.

However, in the short term, these coins could see further gains if Bitcoin (BTC) breaks past its previous high, as meme coins often thrive during Bitcoin’s bull runs. Factors that could drive Bitcoin’s price higher include possible cuts in Federal Reserve rates, a weakening US dollar, and a continuing stock market rally.

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Donald Trump

World Liberty Financial, Crypto Project Promoted by Trump Family, Confirms Plan for WLFI Token

Published

3 days ago

September 17, 2024

admin

As of now, the token will be sold only to accredited investors under what is known as a Regulation D exemption from the Securities and Exchange Commission (SEC). Regulation D exemptions allow companies to raise capital without registering securities with the SEC, primarily by offering securities to accredited investors or in small, private offerings.

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