Trump-inspired memecoins crash after presidential debate

Memecoins “inspired” by US presidential candidate Donald Trump have fallen sharply following the first debate with opponent Kamala Harris. The MAGA (TRUMP) memecoin, for example, inspired by Trump’s “Make America Great Again” campaign, has fallen more than 1% in the last 24 hours, after a performance considered below expectations in the debate held on September 10.

Before the debate began, the TRUMP token had reached an intraday high of $3.42. However, as the debate progressed and Trump appeared more irritated and less energized, the value plummeted to $2.89. The coin had previously hit an all-time high of $17.51 ​​on June 1, but has since fallen by around 83%.

Trump memecoins fall after debate

Other Trump-related memecoins, such as MAGA Hat (MAGA), have also seen significant losses, with a drop of more than 18% in the last few hours.

Similarly, the meme cryptocurrency Super Trump (STRUMP) has fallen more than 10% in the past 24 hours, and MAGA: Fight for Trump has seen an even larger daily decline of 28.5%. The memecoin Trump Mania
(TMANIA) depreciated just over 20% in the same period.

But the impact of the Trump-Harris debate wasn’t limited to memecoins. After all, the price of Bitcoin also suffered a slight drop of 1%, trading at US$56,730 at the time of writing.

Analysis of the debate

Donald Trump’s performance in the debate has been criticized. Observers noted that the candidate appeared to have lost the energy that characterized his previous campaign. Adam Cochran, a partner at CHEV, commented that Trump was “out of sorts,” suggesting that the campaign appears to be taking its toll on the former president. “He’s tired and out of sorts,” Cochran said in his analysis.

Economists like Alex Krüger also noted the difference in attitudes between the candidates. According to Krüger, Kamala Harris appeared “calm and in control,” while Trump appeared “angry and out of control at times.” Many critics agreed that the debate moderators seemed to favor Harris.

Economist Peter Schiff, in turn, criticized the way the debate was conducted by ABC, which did not address economic issues such as the growing national debt, the rising costs of managing this debt, the high level of inflation, among other economic problems faced by the United States.

Research and reactions

Polls conducted earlier this week indicate that the race for president is very close, with the candidates tied at 49 percent support among registered voters. Both candidates declared themselves the winners after the debate.

Trump’s team said the former president laid out “his bold vision for America,” highlighting issues such as the economy, border security and fighting crime. Kamala Harris’ team said Trump was “totally inconsistent,” stressing that voters will have to decide whether to “go forward with Harris or go back with Trump” in November’s election.

Follow Todaysgist on