Over the last day, several memecoins tied to the US elections have seen their value rise significantly. Memecoins like $BODEN, $MAGA, and $KAMA, have experienced quite drastic leaps in value and volumes that have attracted the attention of the crypto traders and investors.
Strong Gains Amidst Political Campaign Momentum
The performance of these coins is associated with the most significant political voices in the United States. $BODEN, linked to Joe Biden, has increased in value by 25.66% which brought its price to $0,01221. Its trading volume within 24 hours also spiked more than 210% to be at $2.69 million. The market cap stands at $8.44 million and therefore ranked as the 2778th largest crypto token in the world.
On the other hand, $MAGA, tied to former President Donald Trump and his “Make America Great Again” movement, surged by 27.65%, with the price climbing to $4.09 at press time. Current value of its market capitalization is $180 million, which puts it in the list of the top 254 cryptocurrencies by market capitalization. The trading volume has also soared by 106% to more than $6.1 million in 24 hours. The rise in $MAGA’s price and trading volume comes at the time when Trump still remains influential in America’s politics. His run for the 2024 election can be seen as a key factor driving this surge.
$KAMA, associated with Vice President Kamala Harris, also saw a price increase of 20.30%, pushing its value to $0.009921. Its market capitalization is nearly $9.82 million putting the coin at the 2837th position of all the cryptocurrencies. The trading volume for $KAMA increased by more than 93% with total transactions within the last 24 hours reaching $1.58 million. The rise in $KAMA might be due to traders speculating on Harris’ future in U.S. politics. Her role as Vice President and the possibility of a potential future win may be driving increased interest.
Crypto Market Reactions to Kamala Harris and Trump Debate
Political Trends and Market Speculation
The performance of these coins reflects growing interest in politically themed memecoins. Investors are speculating on their popularity ahead of the upcoming U.S. election cycle. Market analysts attribute the high gains to social media trends, where political content, especially memes, tends to go viral. The uptick in trading volume suggests that traders are actively engaging with these coins, potentially looking to capitalize on the hype.
Though their long-term viability remains uncertain, their short-term gains are catching the attention of the crypto community. For example, some recent rallies and speeches have driven interest in these tokens. Speculation about candidates’ futures and their policies continue to shape the market’s response.
