Memecoins
RFK’s $BOBBY Survives PolitiFi Memecoin Crash After Crypto Not Mentioned in US Presidential Debate
KEY POINTS
- BOBBY saw a nearly 10% increase when Biden and Trump took the stage Thursday night
- All other Trump-themed coins in CoinGecko’s Top 10 fall into the red line
- The BODEN token tumbled a staggering 38.6%, while the ever-popular TRUMP coin tumbled over 10%
The Robert F. Kennedy Jr.-based Kennedy Memecoin (BOBBY) was one of only two major PolitiFi (political finance) memecoin tokens to survive a rout suffered by the broad memecoin market on Thursday night following what many considered a less than stellar first U.S. presidential debate.
Thursday night’s debate ended on a sour note for President Joe Biden, Reuters reported observed gave a “shaky and uncertain performance,” while Republican presidential candidate Donald Trump was criticized for “falsehoods” he said during his speaking turn.
The debate appears to have affected the bustling memecoin market, with all but eight tokens in CoinGecko’s Top 10 Memecoin PolitiFi taking a dip as the world watched the two frontrunners for the presidency battle it out on the debate stage.
The world’s top PolitiFi memecoins, most of them Trump-themed, tumbled Thursday night. CoinGecko
Interestingly, the Top 1 coin, ConstitutionDAO (PEOPLE), and the Top 10 token, BOBBY, have not fallen like other popular PolitiFi memecoins. PEOPLE is up over 6%, while BOBBY has seen a 9.5% spike. The token has seen a 3.4% increase over the past seven days.
Notably, independent contender RFK Jr. has been a longtime proponent of cryptocurrencies and has had a consistent stance on Bitcoin, the world’s largest digital asset in terms of market value. During CoinDesk’s Consensus 2024, he asked “transactional freedom.” He also said that if he “makes sure America remains the hub of blockchain technology” he will win the November 2024 election.
Top 5 Jeo Boden (BODEN) fell a stunning 38.6%, while the most popular Trump-themed coin MAGA (TRUMP) tumbled 10.6%. Other popular, top-ranked Trump-themed tokens also plummeted in the past 24 hours, including TMANIA (51.3%), MAGA (17.6%), and TREMP (15.2%).
Some non-PolitiFi tokens surge during the first presidential debate. CoinGecko
In a broader sense memecoin marketNon-PolitiFi memecoins have rallied. Cat in a dogs world (MEW) is up 12.4%, Popcat (POPCAT) is up 18.8% and is up over 103% in the past week, and Mog Coin (MOG) is up 28.7% in the past 24 hours after rallying 117.4% in the past week.
Meanwhile, neither Biden nor Trump mentioned cryptocurrency during their debate. Trump has repeatedly championed the sector at his recent rallies and event appearances, but during Thursday’s debate, the digital asset space was not a point of discussion.
Biden, on the other hand, has yet to openly support the sector, but previous reports have revealed that his 2024 campaign has reached out to some major crypto industry players for political talks.