Trump Harris Polls Favors Ex-President But His Memecoins Lost Appeal, Why?
As of today, there are almost two weeks before the US elections in 2024, and the anticipation for that is clearly visible in the Trump Harris polls. Though the presidential candidates, Donald Trump, and Kamala Harris, are in a tough battle, the former is leading the race, especially with his pro-crypto stance and support from multi-billionaire Elon Musk. It gets more significant as Elon recently joined one of Trump’s rallies, wearing a Black MAGA hat. However, as there are still two weeks left, the table might turn as earlier Harris was leading the race.
Donald Trump Lead The Trump Harris Polls By 20%
The former US president, Donald Trump, had an early start with endorsing the voters for the upcoming elections. In the run for that, he has even accepted the crypto industry and made some heavy promises for its development and support in the future. As a result, many popular meme coins were also introduced by followers, with him as a reference. Interestingly, they also gained heavy popularity in the crypto market.
With this and many other factors, Donald Trump is officially leading the Trump Harris polls by 20%, as US Election odds Hit 60% in favor of Trump and only 40% are in Harris’s favor on Polymarket. More importantly, four users have paced bets worth $25M, flagging concerns for market manipulation.
However, in contrast to the poly market data, Kamala Harris is leading in the mainstream media polls. The TRON founder, Justin Sun, also highlighted this in one of his recent x posts, questioning what to believe. However, he also highlighted the real deal, where the money is at stake.
If you look at the mainstream media polls @FiveThirtyEight, they all say @KamalaHarris will be elected president. But if you look at where the real money is betting, on @Polymarket, @realDonaldTrump is already ahead by more than 20%. So, who is actually right? pic.twitter.com/6se58yRmz5
— H.E. Justin Sun(hiring) (@justinsuntron) October 19, 2024
Trump-Themed Memecoins Struggling Despite Polls Win
The overall crypto market is up today after significant Bitcoin buying and the hype around the Trump Harris polls. However, the Trump-themed memecoins did not exactly follow this rally. Instead, they are struggling on the charts, disappointing many crypto enthusiasts. At the time of reporting, Trump coins like MAGA (MAGA), MAGA (TRUMP), and many other similar tokens are facing significant drops.
After looking at the bigger picture, MAGA and TRUMP are in profit, as they are up by 116% and 102% on the monthly charts. Even a few hours ago, these tokens were performing decently before following a steep downtrend. This downtrend pushed the MAGA price down to $0.0001579 after a 7% decline in the last 24 hours. Additionally, its market capitalization and trading volume have also declined to $61.63M and $13.77M. It is quite disappointing, as just a few days ago the MAGA price jumped 17% within a day, raising investors’ expectations.
Moreover, in the case of the TRUMP token, the price has declined to $4.28 after an 18% drop, with a declined market cap of $188.26M. However, its trading volume is still up at $15.70M after a 128% surge, indicating the ongoing demand for the token. With this, these tokens may be in a temporary consolidation following their month-long rally. More importantly, there is strong buying pressure on these Trump-themed memcoins thanks to the hype around Trump Harris polls and upcoming elections. As a result, recovery might happen once these break resistance.
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