Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Political meme tokens crash after US election

Political meme tokens crash after US election

HappyCoinNewsHappyCoinNews2024/11/07 18:22
By:HappyCoinNews

The rate of political meme tokens predictably collapsed after the US presidential election, which took place on November 5.

An index tracking the value of cryptocurrencies dedicated to Donald Trump decreased by 63% over the past 11,5 hours and dropped to -11%, which is the lowest level since the debate between Trump and his main rival Kamala Harris on September XNUMX.

The Harris coin index has fallen even further, down 80% in the past 24 hours. It has already dropped to -94% and continues to fall due to a massive dump in the Kamala Horris (KAMA), Krazy Kamala (KAMALA), and KAMALA HARRIS (HARRIS) meme token markets.

Political meme tokens crash after US election image 0

Change in political meme token indices after debates

Some traders hoped that Trump's stunning election victory would boost the price of digital assets associated with him. However, this did not happen. Owners of doland tremp (tremp), MAGA tokens Token (TRUMP) and Donald Trump (TRUMP) began to actively get rid of coins after the end of the vote, so their value went to hell.

However, Donald's triumph has triggered a bullish trend in the markets of many leading cryptocurrencies by capitalization. For example, the Bitcoin rate up by 11% and on November 6 updated its historical maximum at $76, and the cost Ethereum (ETH) took off by 20% to $2880, a level not seen since early August.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!