Several Donald Trump-themed memecoins enjoyed a powerboost on the back of the former president’s chat with X owner Elon Musk on Monday.
While neither of them mentioned cryptocurrencies during their rambling two-hour interview, that didn’t stop at least one political memecoin from surging over 109% in the past 24 hours.
Political memecoins highlight the growing role crypto plays ahead of the November election, with industry insiders betting on the outcome of the November vote to catapult Bitcoin to new heights.
Memecoins generated over $4.6 billion in trading volume over the past 24 hours alone, according to CoinGecko data.
Musk interviews Trump
Over one million people tuned in on Monday night to listen to Musk and Trump’s conversation.
The two discussed topics such as immigration, global warming, artificial intelligence, the Trump assassination attempt, and Vice President Kamala Harris’ appearance on the cover of Time Magazine.
Both Trump and Musk are accustomed to making waves in crypto markets: the former has positioned himself as a pro-crypto candidate in the upcoming election, and Musk is known to occasionally pump tokens like Dogecoin.
Despite their industry credentials, crypto remained absent from their chat — to the disappointment of gamblers who had bet over $1.3 million in total on Polymarket that Trump would mention either Bitcoin or Ethereum.
Still, that didn’t prevent politically themed memecoins from having 24 dramatic hours.
Pepe (TRUMP) came out as the standout winner, having skyrocketed just over 109% over the period, according to CoinGecko data.
Another winner over the past 24 hours was Maga People Token (PEOPLE), which surged of about 80%.
However, results varied across the memecoins markets.
Dark MAGA (DMAA) fell almost 46%, Fight to MAGA (FIGHT) declined just shy of 40%, and MAGA Pepe (MAPE) dropped just over 27%.
The price of MAGA (TRUMP) hit $3.70 just 30 minutes before the interview commenced but has since declined almost 15% to $3.18. Overall, its down 6% over the past 24 hours.
Conversaly, the memecoin Kamala Horris, a play on the name of vice president and Trump’s primary political rival, fell 10% over the past 24 hours.
None of the tokens are affiliated with Trump or Harris.
Crypto market movers
Bitcoin is down 0.3% over the past 24 hours to trade at $58,648.
Ethereum is also down 0.3% to trade at $2,623.
What we are reading
Binance exec in Nigerian prison is ‘almost bedridden’ — DL News
Bitcoin Hashrate Hits Record High as Miner Reserves Drop to 3-Year Low — Unchained
Canadian Crypto Exchange ezBtc Founder Accused of $9.5 Million Fraud — Milk Road
Applications Open for MakerDAO’s $1 Billion Tokenization Competition — Unchained
Cuban, Scaramucci, and lawmakers confirmed for Crypto4Harris town hall — DL News
Got a crypto story? Get in touch with DL News’ Hong Kong-based correspondent Callan Quinn at callan@dlnews.com.
