Donald Trump is making the difference: Those memecoins are booming!

Donald Trump, who beat Kamala Harris on the decentralized prediction platform Polymarket, has stirred up memecoins.

Donald Trump-themed Political Finance (PolitiFi) tokens have exploded as the Republican presidential candidate's chances of winning the election have been increasing on Polymarket. Despite the market's decline, PolitiFi tokens, which are on an upward trend, have excited memecoin hunters.

Trump-themed MAGA, MAGA HAT, and Solana-based TREMP have all seen double-digit gains this week. The first and largest of these, MAGA, has a market value of over $200 million, up 55 percent on a weekly basis, while MAGA HAT has increased by $102 percent and TREMP by 93 percent.

PolitiFi is a memecoin category that gained traction earlier this year, allowing communities and investors to use markets to speculate on the rise or fall of political figures.

Trump’s chances of winning the US presidential election have risen to their highest level in more than two months on leading prediction marketplace Polymarket. As of Friday, investors gave the former president a 55.8 percent chance and Vice President Kamala Harris a 43.8 percent chance, according to Polymarket. More than $1.6 billion has been bet on the November election on Polymarket.

Bitcoin recovered on Friday morning after falling more than 4 percent on Thursday. The cryptocurrency leader has climbed back above $60,000 as regulatory concerns weighed on the market. The resurgence of inflationary pressures in September initially sent markets into decline, with popular cryptocurrencies such as Ethereum ($ETH ) and Dogecoin ($DOGE ) falling as much as 6 percent.

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