Meme Coin Madness as Donald Trump Wins Key States in US Presidential Election

TL;DR

Dogecoin, Shiba Inu, Floki Inu and many more meme coins made impressive gains as the early results of the US presidential election sparked excitement among investors. Kamala Harris is most likely to lose the contest, with a related testimonial seeing a price drop of over 90% in a matter of 24 hours. The Trump effect

The last 24 hours have been a very successful one for the cryptocurrency industry, with its global market capitalization increasing by 7% to approximately $2.6 trillion (according to data from CoinGecko).

Perhaps the most obvious reason that prompted the rally is the increased odds of Donald Trump winning the US presidential election. The Republican, who presented himself as a staunch supporter of the digital asset industry during his campaign, reportedly scored viral victories in swing states like Pennsylvania, North Carolina and Georgia. According to Polymarket, his chances of entering the White House as a winner have exceeded 99%.

Some of the best-performing cryptocurrencies following the news of their massive lead include Bitcoin (BTC), which hit a new all-time high of over $75,000, and Solana (SOL), which exploded to a six-month high of approximately $186.

The meme coin niche is also full of notable winners. The largest in terms of market capitalization, Dogecoin (DOGE), surpassed $0.21, a level last seen in April this year. Its main rival, Shiba Inu (SHIB), is up 9.5% daily, while Pepe (PEPE), Bonk Inu (BONK), Popcat (POPCAT), Floki Inu (FLOKI) and many more have posted increases of two digits

What about PolitiFy memes?

Somewhat expectedly, meme coins related to presidential candidates have also seen increased volatility. Republican affiliates such as MAGA (TRUMP), Donald Tremp (TREMP), Dark Maga (MAGA) and MAGA Again (MAGAA) have posted substantial gains.

TRUMP Price, Source: CoinGecko

Conversely, Harris-themed memes like Kamala Horris (KAMA) and Kamabla (KAMABLA) are among the poorest on the market.

KAMA Price, Source: CoinGecko

The official results of the election have not yet been released and it will be interesting to see if they will lead to additional price changes for the said tokens.

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