KEY POINTS
- BOBBY saw a nearly 10% surge as Biden and Trump took the stage Thursday night
- All other Trump-themed coins in CoinGecko’s Top 10 list bled into the red line
- The BODEN token plunged by staggering 38.6%, while the ever popular TRUMP coin slumped by over 10%
The Robert F. Kennedy Jr.-based Kennedy Memecoin (BOBBY) was one of only two tokens among top PolitiFi (political finance) memecoins to survive a late Thursday night beating of the vast memecoin market following what many viewed as a less-than-stellar first U.S. presidential debate.
Thursday night’s debate ended on a sour note for President Joe Biden, whom Reuters observed had a “shaky and halting performance,” while Republican presidential frontrunner Donald Trump was slammed for some “falsehoods” declared during his turn to speak.
The debate appears to have affected the bustling memecoin market, with all but eight tokens on CoinGecko’s Top 10 PolitiFi memecoins taking a plunge as the world watched the two presidential frontrunners duke it out on the debate stage.
CoinGecko
Interestingly, the Top 1 coin, ConstitutionDAO (PEOPLE), and the Top 10 token, BOBBY, didn’t plummet as did other popular PolitiFi memecoins. PEOPLE was up by over 6%, while BOBBY saw a 9.5% spike. The token has seen a 3.4% increase in the last seven days.
Notably, independent contender RFK Jr. has been a long-time crypto advocate and has had a consistent stance on Bitcoin, the world’s largest digital asset by market value. During CoinDesk’s Consensus 2024, he called for “transactional freedom.” He also said that if he will “make sure America remains the hub of blockchain technology” if he wins the November 2024 elections.
Top 5 ranker Jeo Boden (BODEN) was down by a staggering 38.6%, while top Trump-themed coin MAGA (TRUMP) plunged by 10.6%. Other popular and ranking Trump-themed tokens also plummeted in the past 24 hours, including TMANIA (51.3%), MAGA (17.6%), and TREMP (15.2%).
CoinGecko
In the broader memecoin market, non-PolitiFi memecoins rallied. Cat in a dogs world (MEW) spiked by 12.4%, Popcat (POPCAT) increased by 18.8% and has been up by over 103% in the last week, and Mog Coin (MOG) climbed by 28.7% in the past 24 hours after lodging a 117.4% rally in the past week.
Meanwhile, cryptocurrency wasn’t mentioned by either Biden or Trump during their debate. Trump has repeatedly backed the industry in his recent rallies and event appearances, but during Thursday’s debate, the digital assets space wasn’t a discussion point.
Biden, on the other hand, has yet to be vocally supportive of the sector, but earlier reports revealed that his 2024 campaign has been reaching out to some key crypto players for policy-related talks.
