Donald Trump Meme Coins Plunge After Presidential Debate As Kamala Harris Odds Gain On Polymarket

Updated: 11 September 2024

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Political tokens led by meme coins linked to Donald Trump plunged more than 8% after last night’s presidential debate with the odds of Kamala Harris becoming the next president gaining on betting platforms including Polymarket.

Trumpie (TRUMPIE), Doland Tremp (TREMP) and MAGA Pepe (MAPE) were the biggest losers in the political meme coin sector over the past 24 hours. TRUMPIE plummeted over 47%, while both TREMP and MAPE shed more than 25%.

Betting Odds Shift In Favor Of Kamala Harris As Donald Trump Struggles

Harris and Trump faced off in their first debate in Philadelphia yesterday evening. Topics covered in the debate ranged from the economy to foreign policy to abortion. Following the debate, BetOnline odds that had initially favored Trump had flipped to Harris.

Odds in favor of the former US president winning the election in November dropped 3% on the decentralized betting platform Polymarket. Meanwhile, Harris’s odds rose by the same amount over the past 24 hours. Bettors on the platform now see a 49% chance of either candidate taking the White House this year.

World's largest prediction market.

Before the debate After the debate pic.twitter.com/p1KjOOFZU1

— i/o (@eyeslasho) September 11, 2024

Before the debate, Trump had an 8% lead on the platform. His odds prior to yesterday’s face off stood at 53%, compared to Harris’s 45%.

Crypto Not Mentioned Once In First Harris-Trump Presidential Debate

Despite Trump’s pro-crypto stance, the industry was not mentioned once during the debate. The former US President appeared to be agitated during the face off with data from the fact-checking agency PolitiFact showing he made several false claims.

Trump had earlier vowed to end President Joe Biden’s war on crypto if elected. He also said on Sept. 5 that he plans to wipe out anti-crypto regulation and make the US the “world capital of crypto.”

Bernstein analysts told clients in a Sept. 9 note that Trump winning could ignite a BTC rally to $90K by the end of the year, while a Harris win could see the king of cryptos plummet to $30K.