The cryptocurrency market plummeted Tuesday before it started stabilizing Wednesday, but many political-themed tokens were unscathed as presidential and vice presidential campaigns heated up in different parts of the country.
Harris, Walz in Georgia
Vice President Kamala Harris and her running mate, Tim Walz, are in Georgia – the state that delivered a Democratic victory for the first time in nearly three decades via President Joe Biden's narrow win in 2020.
A new Fox News poll showed that Harris is leading Republican presidential nominee Donald Trump. The latter is behind his Democratic foe by 2%, but within the margin of error. Harris is also in the lead in three other Sunbelt states, as per the new poll.
"If that lead holds, she wins Georgia. She wins the presidency of the United States," the outlet noted.
Trump Heads to Battleground State
Amid Harris' apparent rise in new polls, Trump is headed for Wisconsin, a swing state that also delivered the victory to outgoing President Biden in 2020.
The business mogul is set to appear for a town hall event Thursday night in La Crosse, along the Mississippi River. Some observers noted how the town hall transitions largely from the massive, high-energy rallies that the GOP frontrunner has held is widely known for.
It is also the first time he will campaign in the swing state. Notably, the event will be moderated by ex-Democratic congresswoman Tulsi Gabbard, who was also a 2020 presidential candidate. She endorsed Trump earlier this week.
$KAMA Token Spikes
As the presidential campaigns heat up and new polls suggest Harris has closed the gap between Biden and Trump before the U.S. president stepped down from the race, political-themed tokens moved.
Nearly all political memecoins increased over the last 24 hours, including Harris-based Kamala Horris (KAMA), which saw a 14.2% spike. The coin has been on a 26.3% rally in the past seven days, as per CoinGecko data.
On the other hand, Trump-themed tokens didn't let the news of Harris' lead affect their rallies, as multiple altcoins based on the ex-president were also on a significant climb in the past day.
Jeo Boden (BODEN), a parody coin based on the incumbent president, was also on a roll, as it climbed by over 12% in the past day and has been up by over 16% in the past week.
Majority of Trump Tokens Climb
The ever-popular MAGA (TRUMP) coin increased by 4.6% in the last day, backed by a 12% rally throughout the last week. In the backdrop of a 35% spike in the last seven days, the MAGA HAT (MAGA) token climbed 7.4% in the past 24 hours.
Super Trump (STRUMP) saw a week-long spike of 15.1%, while Fight to MAGA (FIGHT) logged a 13.3% increase all week, and Dark MAGA (DMAGA) was up by 2.0% in the past day following a 9.8% week-long increase.
The largest gainers throughout the past week were Pepe Trump (PTRUMP), which was up by 70.7%, and Trump Mania (TMANIA), which logged a staggering 160.8% spike in the last seven days.
The surge in Trump-themed memecoins may also be linked to hype around his sons' DeFi project, which has been rebranded from "The DeFiant Ones" to "World Liberty Financial."
A History of PolitiTi Pumps
This isn't the first time PolitiFi memecoins pumped, reacting to the activity around the 2024 presidential campaigns.
Last week, three Trump-based tokens were the only political memecoins that rallied as other coins plunged. Pepe Trump had a stellar week-long rally at the time, logging a whopping 9,938% increase.
In July, following Biden's endorsement of Harris, the KAMA token skyrocketed by over 106% after logging a 276% increase in the week leading to Biden's withdrawal from the presidential race.
