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As we get closer to the time of the US presidential election on November 5, we see an increase in volatility in the field of memecoins. Many of the tokens affected by this election are related to the two main candidates, Donald Trump and Kamala Harris.
According to market data, the price of the TRUMP token increased by 17% in one day, while MAGA, Super TRUMP and TRUMP 47 (47) tokens grew more significantly, from 40% to 60%. have had
On the other hand, Harris-related tokens, such as Kamala Harris (KAMA) and Kumala Harris (MAWA), have seen significant declines, with their prices down 20% and 17%, respectively.
According to various polls, Trump has a better chance of winning. According to the data of the Polymarket platform, his chance of winning is approximately 58% and his opponent’s chance is 42.3%.Trump’s higher chance of winning the election could be one of the reasons for the increase in the price of the meme tokens associated with him and the decrease in the price of the tokens associated with Harris.
Market experts believe that the final results of the US election are likely to bring significant volatility to the main digital currency, Bitcoin.
Trump has presented himself as a viable option for fans of the crypto industry and has promised to support domestic Bitcoin mining. He also promised to remove Gary Gensler, the chairman of the Securities and Exchange Commission, who is known as the great enemy of this field.
On the other hand, Harris has spoken less in this regard and only last month called for the creation of a comprehensive framework to regulate digital currencies in order to protect market participants. Now, we have to wait and see what will be the reaction of Bitcoin and the crypto market after the announcement of the final results.
