Here’s why Trumpcoin, MAGA, and Trump tokens are rising

Donald Trump-themed cryptocurrencies surged on Aug. 21 as his odds of winning the election increased and as Bitcoin held steady above $60,000.

MAGA MAGA

trump

24.31%

MAGA token rose by 46% to $3.88 while MAGA Hat MAGA Hat

maga

6.65%

MAGA Hat rose by over 13.2%. Trumpcoin

jumped by 10% to $0.000154.

This rally coincided with rising odds that Donald Trump might win the general election. According to Polymarket, the likelihood of a return to the White House now stands at 54%. Meanwhile, rival Kamala Harris’s odds dropped to 46%.

This marks a significant reversal, as she had been leading for a while amid positive press coverage.

Meanwhile, Kamala Harris-themed coins saw sharp declines, with Kamala Horris

dropping by 25%, bringing its market cap down to $5.6 million.

Trump’s rising odds followed rumors that Robert Kennedy Jr. might step down and endorse him for the presidency. If Kennedy’s supporters shift their allegiance to Trump, he could gain an advantage in key battleground states and win over independent voters.

Harris has faced criticism for her economic plan, which she unveiled last week. Her plan involves price controls, tax increases, and more government housing. Most economists believe that these measures, particularly price controls and tax hikes, would struggle to pass in a divided Congress.

The three Trump coins also rose as Bitcoin (BTC) held above $61,000 ahead of the upcoming Jackson Hole Symposium in Wyoming.