With the U.S. presidential election approaching on 5 November, Donald Trump and Kamala Harris are vigorously competing for voter approval.
Trump’s Recent Rally and Technical Challenges
Both candidates held rallies in Milwaukee on 1 November, with Trump focusing on conservative suburb support and Harris aiming to strengthen her base in this historically Democratic stronghold.
In a repeat of 2016, Trump secured victory in Wisconsin but lost the state in 2020. At the recent rally, technical difficulties with his microphone visibly frustrated him, impacting his speech delivery.
“I’m boiling with anger!”
Effects on Trump-themed Memecoins
The recent political events have caused fluctuations in the crypto market. In the PolitiFi sector, the market cap reached $677 million, a 4.1% change in the last 24 hours. Some Trump-inspired memecoins saw significant gains:
MAGA [TRUMP] rose by 15.5%, MAGA Hat [MAGA] by 28.3%, Super Trump [STREMP] by 34.4%, and TRUMP 47 [47] by 56% in the same period.
Conversely, not all Trump-related memecoins saw positive movement. Donald Trump [TREMP] declined by 0.8%, Pepe Trump [PTRUMP] by 4.8%, 4TRUMP [4WIN] by 57%, and BABYTRUMP [BABY TRUMP] by 9.2%.
Effects on Harris-inspired Memecoins
Memecoins tied to Vice President Kamala Harris faced a bearish trend. Kamala Horris [KAMA] decreased by 11.5%, while Kumala Herris [MAWA] lost 15.5% over the same period.
Insights from Prediction Markets
Prediction markets like Polymarket and Kalshi suggest that Trump is gaining an advantage over Harris. Analysts from Bianco Research, including Jim Bianco, note that platforms such as Polymarket, Kalshi, and PredictIt show a +60% chance of Trump winning.