Why Trump-themed memecoins MAGA, STREMP rallied by double digits today

• Trump and Harris held competing rallies in Milwaukee on the even of Election Week
• Prediction markets suggested Trump had a 60% probability of winning the elections

As the countdown to the U.S presidential election on 5 November intensifies, candidates Donald Trump and Kamala Harris are ramping up their efforts to secure voter support.

Trump’s latest rally and technical issues

On 1 November, the two contenders staged competing rallies in Milwaukee, a strategic location traditionally known for being a Democratic stronghold.

While Harris aims to solidify her base in this vote-rich area, Trump is focusing on gaining support from conservative suburbs. Back in 2016, he claimed victory here in Wisconsin, before losing the state in 2020.

However, during the rally, Trump expressed visible frustration as he struggled with technical issues affecting his microphone.

He vented his irritation over the audio difficulties, highlighting how they disrupted his speech. He said, 

“I’m seething!”

Impact on the Trump-themed memecoins

While it may appear insignificant at first glance, the crypto-market has recorded notable fluctuations tied to these political events.

According to CoinGecko, for instance, the PolitiFi sector’s market cap value stood at $677 million – A 4.1% change over the last 24 hours. Several Trump-inspired memecoins registered some major gains too.

For example, MAGA [TRUMP] surged by 15.5% in 24 hours, while MAGA Hat [MAGA] jumped by 28.3%. Similarly, Super Trump [STREMP] rose by 34.4%, and TRUMP 47 [47] recorded an impressive hike of 56% during the same timeframe.

On the contrary, not every Trump-inspired memecoin registered upward momentum on the charts. In fact, several actually depreciated on the charts.

Consider this – Donald Trump [TREMP] saw a slight drop of 0.8% over the last 24 hours, while Pepe Trump [PTRUMP] fell by 4.8%. More significantly, 4TRUMP [4WIN] crashed by 57% and BABYTRUMP [BABY TRUMP] declined by 9.2%.

Impact on Harris-inspired memecoins

On the other side of the political spectrum, memecoins associated with Vice President Kamala Harris have been in a bearish phase.

Kamala Horris [KAMA] dropped by 11.5% and Kumala Herris [MAWA] lost 15.5% of its value over the same period.

What are prediction markets hinting at?

Here, it’s worth pointing out that prediction markets such as Polymarket and Kalshi indicate that Trump may be gaining an edge over Harris.

In fact, a recent analysis by Jim Bianco from Bianco Research highlighted that platforms like Polymarket, Kalshi, and PredictIt are projecting Trump with a +60% probability of winning.