After Donald Trump’s Milwaukee rally was marred by technical issues and what some called an uncharacteristically agitated performance, at least one Trump-themed meme coin jumped in value while others took a significant downturn.
Investors, who once rallied around these coins due to the ex-president’s association with digital currencies and nativist rhetoric, saw red across their portfolios — except TrumpCoin (DJT).
Many of these coins initially spiked due to Trump’s hints of a pro-crypto stance and political drama before the Nov. 5 election.
But on the heels of a Friday rally in Wisconsin, where Trump made lewd gestures with a microphone and threatened to dock a contractor’s pay, they experienced substantial losses.
TrumpCoin rose 40% at the last check on Saturday, while MAGA (TRUMP) and MAGA Hat (MAGA) were in the red.
See the chart, below.
Named after the Republican campaign slogan “Make America Great Again,” MAGA Coin aims to attract supporters looking to express their enthusiasm for the Trump brand.
Holders often embrace it as both a collectible and a token of political allegiance. On Saturday, the coin saw a 4.6% drop.
The coin, inspired by Trump’s signature red campaign hat, was down more than 19% at last check Saturday.
Playing off the popularity of both Trump and dog-themed meme coins like Shiba Inu, Trump Inu was down 11.7% at last check Saturday.
Democratic presidential candidate Kamala Harris — who has been courting the crypto community for support — also held a rally in Milwaukee, just a short distance away from Trump’s, underscoring the importance of drumming up support in Wisconsin, a swing state, before the Nov. 5 election.
Trump won the state in 2016 but lost in 2020.
Harris’s campaign hyped the enthusiastic crowd with appearances from music artists Rapper Cardi B, GloRilla, Flo Milli, MC Lyte, The Isley Brothers and DJ Gemini Gilly.
The Vice President also emphasized unity and compromise, contrasting her approach with Trump’s, whom she accused of treating those who disagree as enemies.
“Unlike Donald Trump, I don’t believe people who disagree with me are the enemy,” she said. “He wants to put them in jail. I will give them a seat at the table.”
Trump’s own crypto startup, World Liberty Financial, hasn’t been doing well.
The company, started by his family (namely his eldest sons), slashed its fundraising goal after sales of its namesake World Liberty Fi (WLFI) token adjusted its fundraising goal after garnering little interest from investors.
World Liberty Fi now plans to raise up to $30 million from investors — 90% less than the $300 million it originally pitched.
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