Trump meme coin defies trend, spikes 40% after MAGA rally

After Donald Trump’s Milwaukee rally was marred by technical issues and what some described as an unusually turbulent performance, at least one Trump-themed meme token rose in value while others experienced a significant decline.

Investors who once rallied around these cryptocurrencies due to the former president’s relationship with digital currencies and nativist rhetoric have seen red in their portfolios, except for TrumpCoin (DJT).

Many of these cryptocurrencies initially rose due to political drama and hints that Trump would take a pro-cryptocurrency stance ahead of the November 5 elections.

But they suffered significant losses on the heels of a Friday rally in Wisconsin, where Trump made obscene gestures with a microphone and threatened to withhold a contractor’s pay.

TrumpCoin was up 40% at last check on Saturday, while MAGA (TRUMP) and MAGA Hat (MAGA) were in the red.

See the table below.

MAGA Money

MAGA Coin, named after the Republican campaign slogan “Make America Great Again,” aims to attract supporters looking to express their enthusiasm for the Trump brand.

Owners often embrace it as both a collector’s item and a symbol of political allegiance. On Saturday, the cryptocurrency saw a 4.6% decline.

MAGA HAT

The coin, inspired by Trump’s signature red campaign hat, was down more than 19% at last check on Saturday.

Trump Inu

Riding on the popularity of dog-themed meme coins like both Trump and Shiba Inu, Trump Inu was down 11.7% at last check on Saturday.

Harris rally is a stark contrast

Democratic presidential candidate Kamala Harris, who has been courting the crypto community for support, also held a rally in Milwaukee, a short distance from Trump’s rally, underscoring the importance of drumming up support in Wisconsin, a swing state before Nov. 5. vote.

Trump won the state in 2016 but lost in 2020.

Harris’ campaign thrilled the enthusiastic crowd with appearances from musical artists Rapper Cardi B, GloRilla, Flo Milli, MC Lyte, The Isley Brothers and DJ Gemini Gilly.

The Vice President also emphasized unity and compromise, contrasting his approach with that of Trump, whom he accused of treating those who disagree as enemies.

“Unlike Donald Trump, I do not believe that people who disagree with me are enemies,” he said. “He wants to put them in jail. I’ll give them a seat at the table.”

Trump’s World Freedom Fi

Trump’s own crypto venture, World Liberty Financial, is not doing so well.

Founded by his parents (i.e. their eldest son), the company lowered its fundraising target after adjusting its fundraising target after receiving little interest from investors following the sale of its eponymous World Liberty Fi (WLFI) token.

World Liberty Fi now plans to raise up to $30 million from investors; That’s 90% less than the $300 million he originally offered.