Memecoins
US Presidential Memecoins Rise and Fall After First Trump-Biden Debate
Although cryptocurrencies were not mentioned in the first US presidential debate of 2024 held last night, memecoins based on the candidates’ likenesses have attracted a strong response.
Last night, millions of Americans tuned in to watch the first of two debates between Republican nominee Donald Trump and incumbent Democratic President Joe Biden.
The two candidates’ stances on cryptocurrencies have been the subject of heated debate within the digital asset community. While Trump has it was invoiced as “The President of Cryptocurrency,” Biden’s campaign has been criticized for what is perceived as a hostile stance toward the industry, along with the administration’s close ties to Gary Gensler.
Despite the conversation about cryptocurrencies that led to last night’s debate, neither Bitcoin (BTC) nor was encryption mentioned.
However, two memecoins based on the candidates’ likenesses had a dramatic reaction to the debate.
WAREHOUSE (BRISCOLA), a memecoin that recently crashed amid rumors that Trump would launch a official memecoinjumped 33% from a 24-hour low of $7.22 to a 24-hour high of $9.61 in the hours after the broadcast. Meanwhile, Jeo Boden (EARTH) fell from a 24-hour high of $0.1715 to a low of $0.07204, a decline of 58%.
BODEN is trading at $0.07917 at the time of writing, down 37% on the day. TRUMP has since corrected and is currently trading at $7.24, down 19% over the same period.
Don’t miss a beat – subscribe to receive email alerts directly in your inbox
Check Price Action
Follow us on X, Facebook AND Telegram
surf The Hodl daily mix
 
Disclaimer: The views expressed on The Daily Hodl do not constitute investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrency or digital assets. Please note that transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: mid-journey