MAGA (TRUMP), the favored Trump-themed meme coin has not too long ago come underneath large promoting stress, hours after the Trump Harris debate ended on Tuesday. The MAGA Value is presently down 10.72% buying and selling at $2.88 with a market cap of $126 million. This occurred as the chances of Donald Trump’s election win dropped following the primary Trump-Harris presidential debate.
MAGA Value Tanks Extra Than 10%
With Donald Trump extending huge crypto help in his presidential marketing campaign all of the Trump-themed meme cash have been on an upside rise this yr. Earlier in June this yr, the MAGA value topped an all-time excessive of $17.1. Nevertheless, it has misplaced over 80% of its worth since then and presently slipping underneath $3. Regardless of this, it’s nonetheless buying and selling 4513% up as of the present market value.
This current fall within the MAGA value comes as Polymarket data confirmed that the chances of Trump’s election win have tanked by 3% to 49%. Alternatively, Kamala Harris gained floor by 3% after the primary presidential debate.
The controversy ends with Trump and Harris tied.
55 days to go. pic.twitter.com/MGpsIl6It8
— Polymarket (@Polymarket) September 11, 2024
Trump Harris Debate Skips Crypto Talks
The primary Trump-Harris debate on Tuesday, September 10, mediated by ABC Information didn’t have any point out of crypto, thereby leaving your complete neighborhood a bit disenchanted. That is one space the place Donald Trump holds an higher hand over the Vice President, As CoinGape reported, crypto was fully ignored in Kamala Harris policy decisions.
In yesterday’s debate, the 2 presidential nominees clashed on key points, which have been additionally marred by some private assaults. This yr to date, crypto companies have spent a complete of $119 million to help the candidate of their alternative by funding tremendous PACs, equivalent to Fairshake PAC.
Former President Donald Trump has been friendlier towards crypto issues however the debate, sadly, didn’t see any dialogue over this. Thus, together with the MAGA value, different Trump-themed crypto are additionally seeing some promoting stress. Trump has promised to finish the “un-American and illegal crackdown” on the crypto trade if elected to energy once more in November 2024.
Alternatively, the Kamala Harris group has been making an attempt to achieve out to the crypto trade with the Crypto4Harris marketing campaign aiming to prop up the picture of the Vice President. Nevertheless, she hasn’t walked the speak to date with crypto trade gamers stating that there are not any concrete measures from the Harris administration.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of monetary markets. His curiosity in economics and finance has led him to concentrate on rising Blockchain know-how and cryptocurrency markets. He’s dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and infrequently explores his culinary expertise.
Disclaimer: The offered content material could embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
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