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Signs to watch out for as Biden and Trump face off in the presidential debate
- Cryptocurrency industry players are pushing for cryptocurrencies to be discussed in tonight’s debate.
- Bitcoin could see a brief rally if Trump or Biden speaks out about the cryptocurrency industry.
- The political meme coins MAGA and BODEN are key tokens to watch as the debate unfolds.
While the US presidential debate between Republican candidate Donald trump and Democratic President Joe Biden takes office on Thursday, investors are eyeing a potential rally in several tokens.
These tokens could increase after the presidential debate
Speculation has been circulating on social media platform X that cryptocurrency industry players are pushing to discuss cryptocurrencies in tonight’s debate.
I suspect that cryptocurrencies will be mentioned during the presidential debate. Why? Because voters want to see America maintain its leadership and edge in technology and innovation. And the fact that we are talking about it demonstrates the continued mainstreaming…
— Christopher Perkins NYC (@perkinscr97) June 27, 2024
Below are some of the coins you may want to keep an eye on:
Bitcoin (BTC) – The number one cryptocurrency has struggled to see upside in recent days, with FUD from Mt. Gox’s potential creditor sale next week saturating the market. Furthermore, large transfers of BTC from the US and German governments to exchanges have further dampened investor confidence.
However, investors are keeping a close eye on whether Trump will address Bitcoin’s issues today, especially given his recent bullish stance on the leading cryptocurrency. On the other hand, a potential Biden endorsement of cryptocurrencies could also send Bitcoin and the cryptocurrency market, by extension, into a brief rally.
TRUMP (MAGA) – The Donald Trump-themed meme coin has risen more than 16% in the past 24 hours as the debate approaches. This follows bets in cryptocurrency prediction market Polymarket that there is a 70% chance Trump will mention MAGA during the debate.
Jeo Boden (BODEN) – The President Joe Biden-themed meme coin fell nearly 13% on Thursday. However, BODEN is trying to offset the loss as it is up about 4% in the last two hours. Polymarket bettors have also opened several predictions on potential mentions of BODEN in tonight’s debate.
TREMP – Another Trump-themed meme coin could be another key token to watch out for.