- Kamala Horris meme coin dropped 93% following Donald Trump‘s projected election victory
- The token’s price fell from its all-time high of $0.03919 to $0.0007908
- MAGA TRUMP token saw a 22% increase before settling at $3.06, down 10%
- Trump leads with 267 electoral votes, needing just 3 more to secure victory
- Both candidates have made crypto-friendly campaign promises to attract voters
Meme Coin Market Reacts to Election Results
A Solana-based meme coin inspired by Kamala Harris experienced a dramatic 93% price decline as Donald Trump approached victory in the U.S. presidential election. According to CoinGecko data, the Kamala Horris token, which features a caricature of the candidate, is now trading at $0.0007908.
The token’s market capitalization has dropped to $795,938, marking a significant decrease from its previous performance. The downward trend intensified as Trump’s electoral vote count neared the required 270 threshold for victory.
Historical Price Performance
The Kamala Horris token, launched on May 30, reached its peak value of $0.03919 on July 24, 2024. The token maintained relative stability before experiencing a sharp decline coinciding with reports of Harris’s diminishing chances against Trump in the election.
The token’s technical specifications include a total supply of $995 million tokens and a fully diluted volume of $795,000. Over the past month alone, the token has recorded a 91.3% decrease in value.
Trump-Related Token Performance
In contrast to the Kamala Horris token’s decline, the MAGA TRUMP token initially surged by 22% following Trump’s projected victory. However, it subsequently experienced a 10% correction, settling at $3.06. The MAGA TRUMP token maintains a market capitalization of $140 million.
Election Status and Crypto Policies
According to the Associated Press, Trump has secured 267 electoral votes, winning key swing states including Pennsylvania, Michigan, and Wisconsin. The former president needs only three additional electoral votes to claim victory.
Both candidates have actively courted cryptocurrency voters during their campaigns. Trump has positioned himself as a crypto advocate, promising to end what he terms the “war on crypto” and pledging to remove SEC Chairman Gary Gensler from office. His platform includes commitments to boost Bitcoin innovation and development.
Harris’s crypto policy focuses on fostering investment in the cryptocurrency sector alongside other emerging technologies, particularly Artificial Intelligence. Her campaign has emphasized investor protection while supporting industry growth.
The market response to the election results highlights the increasing intersection between political events and cryptocurrency markets, particularly in the meme coin sector, which often experiences high volatility based on news events and social media sentiment.
The current market dynamics reflect broader trends in the cryptocurrency space, where political developments can trigger significant price movements, especially in tokens directly associated with political figures or movements.
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