Massive Volatility in PolitiFi Meme Coins 24 Hours Ahead of US Presidential Election: Details

TL;DR

Meme coins linked to US presidential candidates have seen substantial price swings in the past 24 hours. The election results are expected to affect BTC volatility, influenced by the candidates’ different views on crypto regulation and industry support. The presidential battle

The highly anticipated presidential election in the United States (November 5th) seems to have already caused more volatility in the meme coin niche. Some of the most affected listings include those related to the two main candidates, Donald Trump and Kamal Harris.

MAGA (TRUMP) is up 17% daily, while MAGA Hat (MAGA), Super Trump (STRUMP) and TRUMP 47 (47) have posted even more impressive peaks.

MAGA price, Source: CoinGecko

On the other hand, Harris-themed memes such as Kamala Horris (KAMA) and Kumala Herris (MAWA) have dropped by double digits.

Most betting platforms suggest that Trump is more likely to emerge victorious. According to Polymarket, his odds are almost 58% compared to his opponent’s 42.3%. ElectionBettingOdds also has Harris as the underdog, albeit with less distance between the candidates.

Trump’s better chances (at least on paper) of winning the election could be a factor driving the prices of the aforementioned meme coins and suppressing those related to his contender. It’s important to note, however, that their odds were much higher last week.

Expected volatility for BTC as well

The final results of the election will likely lead to significant price changes for the leading digital asset, given the crypto position of the candidates. Trump has presented himself as the right choice for industry supporters, promising to promote domestic BTC mining and fire SEC Chairman Gary Gensler (who is considered a staunch foe of the industry).

Harris has been less vocal about it. He briefly touched on the issue last month, advocating for the establishment of a global crypto regulatory framework to protect “black men and others” who participate in the market.

He claimed that 20% of all black people in the United States own or have previously owned digital assets. According to her, these “new technologies” expanded individuals’ access to affordable banking and financial services.

We are yet to see the exact reaction of BTC after the final results. Trump may seem like the pro-crypto candidate, but let’s not forget that he was once a leading critic of the asset class. It will be interesting to see if he will enter the White House as a winner (as indicated by most betting platforms) and if he will fulfill his promises.

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