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Cryptocurrency News Articles
Elon Musk's Appearance at Donald Trump's Rally Has Caused a Shift in the Currency of Political Memes Coins
Oct 08, 2024 at 05:39 pm
It was a physical appearance and not just a verbal one to clarify his stance in the upcoming US Presidential elections.
Elon Musk's appearance at Donald Trump's political rally has had a positive impact on the prices of political meme coins. His physical presence at the rally, where he expressed his support for Trump in the upcoming US Presidential elections, has shifted the focus towards these meme coins.
On Polymarket, Donald Trump's odds of winning the election have increased. According to the latest figures, Trump's chances of winning are now at 51%, showing a significant increase compared to before Musk's appearance at the rally. In contrast, Kamala Harris's odds have seen a slight decrease, currently standing at 48%.
This shift in odds has also coincided with a surge in the prices of Trump-themed political meme coins. Among these coins, TRUMP has seen a substantial increase of 23.43% in the last 24 hours. At the time of writing, TRUMP is trading at $5.15, having surged by over 23%. Other Trump-themed meme coins, such as MAGA and STRUMP, have also seen significant gains, rising by 22.84% and 36.96%, respectively. While MAGA is not directly classified as a Trump-themed meme coin, it shares a connection with his slogan of "making America great again."
MAGA is currently trading at $0.0001995, and STRUMP is listed at $0.009222. The list of Trump-themed meme coins also includes MAGA VP, which has soared by 19.83%, and BABYTRUMP, which is up by 17.09% during the same time frame. Their values are $0.05099 and $0.004703, respectively.
Elon Musk has consistently expressed his support for Trump on X. However, his appearance at his rally further solidified their shared political bond, which is expected to intensify as the election draws closer. During the rally, Musk drew a comparison between Donald Trump and Joe Biden, highlighting the latter's supposed difficulty climbing stairs and contrasting it with Trump's ability to pump his fist after surviving an assassination attempt.
Musk also appeared on Tucker Carlson's show for an interview, where he clarified that he was "all in on Donald Trump." He further stated that if Trump loses the election, it could mark the end of the election itself, as the opponent would continue to target free speech across the US.
Before Elon Musk's appearance at the rally, Donald Trump's vote share had been declining. It remains to be seen whether this rise in the voting share is temporary or if it can be sustained for the next month. Both Trump and Musk are expressing confidence in his victory.
Trump, during his speech at the rally, highlighted the assassination attempt and stated that it did not break their spirits. If anything, they are now more committed to making America great again.
Polymarket, a prediction platform, now shows an increase to 53.4% for Donald Trump and a decline to 46.1% for Kamala Harris. Chances of his reclaiming the presidential chair are soaring.
Many have come forward to state that they are not supporting Kamala Harris only because her approval rating is relatively low. Many others are positive about Harris, as her performance has been better than Joe Biden.
These political meme coins will continue to be impacted by the shifting predictions on platforms like Polymarket. Trump-themed meme coins are likely to remain under close observation. They might also experience a decline considering the excessive surges, and it is natural for prices to correct themselves.
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