TRUMP, MAGA, TREMP, and STRUMP Meme Coins Tank After Trump Secures US Election Victory

MAGA (TRUMP), the largest Trump-themed meme coin in terms of market cap fell 50.7% over the past 24 hours, exchanging hands at $1.71 when writing.

Several Donald Trump-themed meme coins, including MAGA (TRUMP), experienced significant declines in value following Trump's victory in the U.S. election.

According to data from CoinGecko, MAGA (TRUMP) witnessed a substantial drop of 50.7% over the past 24 hours. At the time of writing, the meme coin was trading at $1.71, and its market capitalization had fallen drastically.

Another Trump-themed meme token, MAGA Hat (MAGA), also faced a steep decline of 51%. The altcoin's market cap fell to $39 million, indicating a significant loss in value.

Dark MAGA (DMAGA) had seen remarkable gains on Nov. 5, rising from $0.008 to $0.0018 overnight. However, the meme coin experienced a sharp drop, decreasing by 62% from its pre-election level and trading at $0.0045, wiping out over $13.5 million from its market cap.

Another meme coin, Super Trump (STRUMP), also faced a substantial decline of 54.9%, with its market cap shedding $11 million.

Other popular meme coins that had previously capitalized on Trump's presidential victory but crashed at press time included Doland Tremp (TREMP), TRUMPCOIN, TRUMP 47 (47), and Pepe Trump (PTRUMP), suffering losses ranging from 50% to 65%.

This trend is not uncommon for meme coins, which often experience sharp sell-offs after the hype peaks—as seen, for example, with Dogecoin (DOGE), the industry's first and largest meme coin.

The Trump meme tokens are getting slaughtered today. Sell the news events.

$TRUMP Down -53%$MAGA Down -57%$FIGHT Down -56%$STRUMP Down -47%

Dogecoin's meteoric rise leading up to Elon Musk’s Saturday Night Live appearance in May 2021 became a classic case of traders selling the news.

DOGE rallied to an all-time high of $0.73 ahead of the May 8 airing date as Musk, an avid Dogecoin supporter, teased his role on SNL.

However, the hype fizzled quickly during and after the broadcast, as traders rushed to offload their holdings with the price of DOGE dropping over 30% within hours. At current prices, the token remains 74% below its all-time high.

This pattern also seems evident in PolitiFi tokens, which are often referred to as “event coins,” as they move in tandem with political developments. However, the downturn comes despite Trump’s victory, which could mean the hype around this meme coin subset is waning.

A likely scenario is that a lot of the liquidity from these PolitiFi tokens is flowing into Bitcoin (BTC) and other altcoins as the flagship crypto has been printing new highs over the past day, fueling hopes that the bull market is starting.

Prominent altcoins like Ethena (ENA) and Raydium (RAY) have posted double-digit gains, while the overall meme coin market is up over 13%, suggesting that PolitiFi tokens are facing an isolated sell-off now that the elections are over.