Meme coins volatility peaks as US presidential debate looms

In recent months, the crypto market has seen the launch of various tokens inspired by prominent political figures. These include Super Trump (STRUMP) and Maga (TRUMP) on the Ethereum network, Maga Hat (MAGA) on the BNB Smart Chain, and Jeo Boden (BODEN) and Doland Tremp (TREMP) on the Solana network.These meme coins have gained significant market caps and trading volumes, attracting attention from crypto community members. According to data from Coingecko’s PolitiFi token category, meme coins currently boast a combined market capitalization exceeding $1 billion, with a 24-hour trading volume surpassing $260 million. The crypto market is currently in decline, with significant assets such as Bitcoin (BTC) and Ether (ETH) experiencing double-digit losses in the past month. In the past week, tokens such as TRUMP, MAGA, TREMP, and BODEN have experienced substantial declines, with double-digit losses. It is worth mentioning that the decline in Trump-related tokens was further exacerbated by the rumors surrounding the introduction of an official DJT token on the Solana network.

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