🌎 Trump-Themed Crypto Coins Rally After Major NYC Event

Donald Trump-themed crypto coins experienced a significant rally following his highly successful event at New York’s Madison Square Garden, coinciding with the countdown to the election date.

Market Surge of Trump-Themed Crypto Coins

The Department of Government Efficiency (DOGE) surged by 50%, pushing its market cap to over $53 million. This rally was spurred by Elon Musk’s appearance at the rally, where he shared his vision for the US government.

The MAGA coin, the largest Trump-themed token, rose by 23%, hitting its highest level since October 19. Similarly, MAGA Hat increased by almost 17%, while Doland Tremp and Trumpcoin jumped by 18%.

Significant Rally Attendance

These tokens soared after Trump held a massive rally with thousands of attendees in New York, a traditionally blue state. Reports indicated that the arena was filled to capacity, with thousands more unable to gain entry.

“OVER 94,500 ARE AT RIGHTFUL PRESIDENT TRUMP’S MADISON SQUARE GARDEN RALLY! The arena has reached MAX CAPACITY of 19,500 & NYPD has reported 75,000 OUTSIDE! This is the BIGGEST RALLY I’ve ever been at!”

Shifting Odds in Prediction Markets

Meanwhile, odds in the prediction market have shifted in Trump’s favor. A Polymarket poll, with $2.6 billion in assets, has placed Trump’s odds of winning at 66% compared to Kamala Harris’ 34%, her lowest level on record. Other prediction markets, such as PredictIt and Kalshi, show similar trends, with Trump holding a 60% chance of winning.

However, analysts caution that these polls should be taken with skepticism, as a few individuals can significantly influence their outcomes. For instance, in Polymarket, the top three pro-Trump predictions are managed by one person in France, with a stake worth over $40 million.

Most traditional polls show a close race in swing states like Michigan, Pennsylvania, Arizona, Nevada, and Georgia. Historically, polls have been inaccurate, as seen in the 2016 and 2022 elections.

Future of Trump-Themed Crypto Coins

In theory, Trump crypto coins will perform well if he wins the upcoming presidential election, driven primarily by hype. Conversely, these tokens may drop sharply if he loses, as his influence among Republicans could diminish significantly at his age.

Another risk for these meme tokens is the possibility of rallying ahead of the election and then retreating sharply afterward, a phenomenon known as “buying the rumor, selling the news.”

Trump meme coins have thrived amid rising demand for meme coins. Data reveals that all meme coins collectively have a market cap exceeding $62 billion, with a 24-hour trading volume of $8 billion.