TRUMP, MAGA, and other Trump-themed tokens crash after election day
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: crypto
Updated: Nov 07 2024Trump-themed meme coins decline: Following Trump's election victory, meme coins like TRUMP, MAGA, and STRUMP saw significant drops in market capitalization, with losses ranging from 50% to over 62%, indicating a trend of traders selling off after the hype peaked.
Liquidity shift to Bitcoin and altcoins: The downturn in PolitiFi tokens suggests that liquidity is moving towards Bitcoin and other altcoins, which are experiencing gains, while the overall meme coin market is up, highlighting an isolated sell-off for Trump-related tokens.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
