The cryptocurrency market has faced another wave of sharp sell-offs, with some tokens seeing steeper declines due to negative news. Recently, former U.S. President Donald Trump declared his hatred for Taylor Swift after she voiced support for Kamala Harris. This led to a sharp drop in the Taylor Swift-themed meme coin.
The Strange Link Between the Meme Coin and Trump Assassination Attempt
As reported by The Bit Journal, the internet has a unique ability to make light of almost any event, whether serious or humorous. This was evident in the crypto markets between September 15 and 16, when the Taylor Swift-themed meme coin SWIFTIES dropped by 9.25%, falling from $0.02863 to $0.02417.
This sudden drop appears to be linked to Taylor Swiftâs recent public endorsement of Kamala Harris for the upcoming U.S. presidential election. Shortly after, on September 15, Trump posted on his social media platform Truth Social, âI hate Taylor Swift,â sparking immediate reactions.
Eyes 
Trump: âI hate Taylor Swift!â pic.twitter.com/k211aKVRMR
â Anthony Tilghman (@AnthonyTilghman) September 15, 2024
Under normal circumstances, this might have been the end of the story. However, just hours later, Trump was the target of a second assassination attemptâthe second in less than two months. This led to online communities humorously speculating that the âSwiftiesâ (Taylor Swiftâs fans) were behind the attack, with memes circulating across social media platforms.
Will SWIFTIES Meme Coin Become the Next Crypto Phenomenon?
At the time of writing, the SWIFTIES meme coin has an underwhelming 24-hour trading volume of $2,000 and a market capitalization just above $240,000. Given these modest figures, the coinâs circumstances are unlikely to change drastically. Nevertheless, the Taylor Swift cryptocurrency represents a broader financial shock hitting assets associated with key figures in the 2024 presidential race, including Donald Trump.
Harris and Trump-Themed Assets React to Assassination Attempt
Interestingly, KAMAâs performance mirrors that of Trump Media shares, which have been significantly impacted by the presidential race and its fluctuating dynamics. After the September 10 debate, DJT stocks crashed, indicating investor dissatisfaction with the Republican candidate. However, DJT saw a rebound after September 13, demonstrating the strong support from Trumpâs base.