Elon Musk and Donald Trump did not mention crypto in their Monday chat. Several Trump-themed memecoins have surged in the past 24 hours. Others have sharper dips.
Several Donald Trump-themed memecoins enjoy a powerboost behind the former president Chat Monday with X owner Elon Musk.
While neither of them mentioned cryptocurrencies during their two-hour interview, at least one political meme didn't stop it from surging 109% in the past 24 hours.
Political memecoins highlight the growing role crypto is playing ahead of November's election, with industry insiders betting on the results of the November vote to propel bitcoin to new highs.
Memecoins generated $4.6 billion in trading volume in the last 24 hours alone. CoinGecko data.
Musk interviews Trump
More than a million people tuned in Monday night to hear Musk and Trump's conversation.
The two discussed immigration, global warming, artificial intelligence, the Trump assassination attempt and Vice President Kamala Harris appearing on the cover. Time magazine.
Both Trump and Musk are used to making waves in crypto markets: the former has positioned himself as a pro-crypto candidate in the upcoming election, and Musk occasionally pumps up tokens Dogcoin.
Despite their industry credentials, crypto was absent from their chat — much to the dismay of gamblers who had bet a total of more than $1.3 million on Polymarket that Trump would mention bitcoin or ethereum.
Join the community to get our latest articles and updates
However, that didn't stop the politically-themed memecoins from having a dramatic 24 hours.
Pepe (TRUMP) The standout was the winner, skyrocketing just over 109% during the period, according to CoinGecko data.
Another winner in the last 24 hours Maga People Token (People)It has increased by almost 80%.
However, results in memecoins markets vary.
Dark Maga (DMAA) About 46% fell, fight maga (fight) 40% shyly rejected and Maga Pepe (MAPE) Just over 27% fell.
The price of Maga (Trump) It touched $3.70 just 30 minutes before the interview began but fell nearly 15% to $3.18. Overall, down 6% in the last 24 hours.
In contrast, memecoin Kamala HarrisA play on the name of the vice president and Trump's primary political opponent, has fallen 10% in the past 24 hours.
None of the tokens are associated with Trump or Harris.
Crypto market movers
In the past 24 hours, Bitcoin is down 0.3% to trade at $58,648.Ethereum is also down 0.3% at $2,623.
What are we studying?
Binance exec 'almost bedridden' in Nigerian jail — NewsBitcoin hashrate hits record high as miner reserves fall to 3-year low – Not boundCanadian crypto exchange ezBtc founder charged with $9.5 million fraud – Milk RoadApplications are open for MakerDAO's $1 billion tokenization competition – Not boundCuban, Scaramucci and Lawmakers Confirmed for Crypto4Harris Town Hall — News
Is there a crypto story? Catch up with Callan Qin, News' Hong Kong-based correspondent [email protected].
Related TopicsUS Election Donald Trumpelon Musk