MAGA (TRUMP), the popular Trump-themed meme coin has recently come under huge selling pressure, hours after the Trump Harris debate ended on Tuesday. The MAGA Price is currently down 10.72% trading at $2.88 with a market cap of $126 million. This happened as the odds of Donald Trump’s election win dropped following the first Trump-Harris presidential debate.
MAGA Price Tanks More Than 10%
With Donald Trump extending massive crypto support in his presidential campaign all the Trump-themed meme coins have been on an upside rise this year. Earlier in June this year, the MAGA price topped an all-time high of $17.1. However, it has lost over 80% of its value since then and currently slipping under $3. Despite this, it is still trading 4513% up as of the current market price.
This recent fall in the MAGA price comes as Polymarket data showed that the odds of Trump’s election win have tanked by 3% to 49%. On the other hand, Kamala Harris gained ground by 3% after the first presidential debate.
The debate ends with Trump and Harris tied.
55 days to go. pic.twitter.com/MGpsIl6It8
— Polymarket (@Polymarket) September 11, 2024
Trump Harris Debate Skips Crypto Talks
The first Trump-Harris debate on Tuesday, September 10, mediated by ABC News didn’t have any mention of crypto, thereby leaving the entire community a bit disappointed. This is one area where Donald Trump holds an upper hand over the Vice President, As CoinGape reported, crypto was completely ignored in Kamala Harris policy decisions.
In yesterday’s debate, the two presidential nominees clashed on key issues, which were also marred by some personal attacks. This year so far, crypto firms have spent a total of $119 million to support the candidate of their choice by funding super PACs, such as Fairshake PAC.
Former President Donald Trump has been friendlier toward crypto issues but the debate, unfortunately, didn’t see any discussion over this. Thus, along with the MAGA price, other Trump-themed crypto are also seeing some selling pressure. Trump has promised to end the “un-American and unlawful crackdown” on the crypto industry if elected to power again in November 2024.
On the other hand, the Kamala Harris team has been trying to reach out to the crypto industry with the Crypto4Harris campaign aiming to prop up the image of the Vice President. However, she hasn’t walked the talk so far with crypto industry players stating that there are no concrete measures from the Harris administration.
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