PolitiFi Tokens Surge 14% As Donald Trump Widens Lead Over Kamala Harris On Polymarket

Updated: 23 October 2024

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Political meme coins surged over 14% in the last 24 hours after Donald Trump extended his lead over Kamala Harris by more than 2 percentage points on Polymarket.

As the odds of Trump winning November’s presidential election rise, Trump-themed tokens, including MAGA SHIBA (MAGASHIB) and MAGA DOGE (MAGADOGE), have soared, with MAGASHIB leading the surge in political meme coins with a 207% pump.

MAGA Pepe (MAPE) and MAGA DOGE (MAGADOGE) surged 72% and 67%, respectively.

Donald Trump-Themed Tokens Surge As Election Odds Rise On Kalshi And PredictIt

Trump’s odds of becoming president stood at 56.2% as of 3:40 a.m. EST, while bettors see a 43.3% chance of Harris taking the White House.

In addition to the rising odds on Polymarket, Trump’s lead on other betting platforms increased as well. Kalshi, the prediction market that just recently won permission to list contracts based on US elections, shows that Trump has a 4% lead over Harris, with his odds standing at 52%.

PredictIt shows a smaller lead, with 53% of the bets in favor of Trump and 52% for Harris.

The former President’s growing lead had a positive impact on the prices of Trump-themed tokens. Larger-cap meme coins linked to the former president also printed gains with MAGA (TRUMP) surging 9% and MAGA Hat (MAGA) and Doland Tremp (TREMP) both soaring more than 18%.

Political Meme Coins Buck Broader Market Trend As Investor Fear Persists

The surge in political meme coins comes amid a broader market downturn. Crypto leader Bitcoin saw its price drop below $59K in the last 24 hours, but has since recovered to trade above the psychological $60K mark. Despite this, the collective crypto market cap is still down more than 1%.

Crypto Fear & Greed Index Now : 32 (Fear)#btc #bitcoin #crypto pic.twitter.com/6tmy5KMP1D

— Crypto Candy🔥💎 (@cryptocandy24x) October 11, 2024

Investor sentiment in the market is still fearful as well. The Crypto Fear and Greed Index shows that the index took a 7-point knock in the last 24 hours, bringing it down to 32. This signals “Fear” in the market, according to the sentiment tracker.