Memecoins inspired by US President Joe Biden and candidate Donald Trump fell as much as 53% as the pair clashed in the first of two live presidential debates.

The Make America Great Again-themed TRUMP token began falling about 20 minutes before the debate began, falling 24.6% to $7.23 at current prices, according to CoinGecko data.

Jeo Boden (BODEN) was hit even harder, falling more than 53% from its peak of $0.17 on June 27 to $0.08 immediately after the controversy. It made a partial recovery and rose to $0.091.

Super Trump (STRUMP) and BABYTRUMP (BABYTRUMP) also experienced double-digit declines during and after the debate.

Trump and Biden mostly discussed issues related to the economy, immigration, wars and abortion.

No speaker mentioned the cryptocurrency industry and the topic was not brought up by the moderators. This is despite three super political action committees supporting the cryptocurrency industry raising over $200 million to influence the 2024 elections.

Biden and Trump will once again have the opportunity to discuss issues related to the digital asset industry on September 10, when the next debate is scheduled.

Despite the decline in the price of PolitiFi coins, Bitcoin (BTC) managed to rise 1.1% during the 90-minute discussion.

Trump's chances of winning the presidency increased while Biden's chances fell as viewers noticed Biden stumbling on some answers and failing to complete some sentences, according to data from prediction markets platform PredictIt.

Trump's odds on the platform rose from $0.53 to $0.63, while Biden's fell sharply from $0.48 to $0.37 over the same period.#blockchain#cryptocurrency#politics#debate