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Odds in favor of former US President Donald Trump retaking the White House soared to an all-time high on July 13 even as political meme coins shed over 3% of their collective market capitalization in the last 24 hours.
The probability of Trump winning the 2024 election soared after an assassination attempt during a recent campaign rally, according to Polymarket. That’s seen as great news for the crypto industry after Trump promised to be ”crypto president” and turn back the anti-crypto stance of the Joe Biden administration.
Donald Trump Defiant After Assassination Attempt
Photos of a defiant Trump with blood on his face while he pumped his fist in the air and shouting ”fight” circulated on social platforms over the weekend.
This comes as political observers put the spotlight on the frailty and gaffes of his opponent and current US President, Joe Biden.
Trump’s election odds just hit 70%.
Yet another all-time high. pic.twitter.com/S2GdqIdetL
— Polymarket (@Polymarket) July 14, 2024
“Yes” shares for a Polymarket contract asking if Trump will win the election surged immediately after the shooting to reach 70 cents. This means that the market puts the odds of Trump regaining the White House at 70%.
The odds continued to climb over the past 24 hours, and stood at 71 cents as of 3:42 a.m. EST. Meanwhile, “Yes” shares for Biden and Kamala Harris stood at 18 cents and 5 cents, respectively.
Political Meme Coins Linked To Trump Take A Tumble
Meme coins linked to the former president were not able to post gains over the past day of trading. MAGA (TRUMP) slid over 2% while MAGA Hat (MAGA) and Doland Tremp (TREMP) suffered respective losses of 18% and 15%.
Biggest political meme coins by market cap (Source: CoinGecko)
Super Trump (STRUMP) saw its price drop more than 5% throughout the past trading day as well. This brought the meme coin’s price down to $0.01124.
Jeo Boden (BODEN), a token linked to Biden, managed to record a 24-hour gain exceeding 7%.
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